The Bank of Uganda (BoU) and the Deposit Protection Fund of Uganda (DPF), hereby remind customers of all Commercial Banks, Credit Institutions and Microfinance Deposit-taking Institutions (MDIs) regulated by BoU to update their personal information with their respective financial institutions.
As part of this process, the following should be submitted:
1) National Identification Number (NIN)
2) Details of a preferred alternative mode of payment. This could be either:
- an alternative bank account or
- a mobile money number.
The Deposit Protection Fund of Uganda requires this information in order to ensure timely and convenient payment of protected deposits to customers in the unlikely event of closure of a financial institution for outright liquidation. This is in line with the Fund’s mandate as stipulated in the Financial Institutions Act,2004 as amended.
The Bank of Uganda wishes to reassure the public that the financial sector remains safe and sound.
In view of the current Covid-19 Pandemic, Depositors are encouraged to contact their respective bankers on how best to update their personal information, as soon as possible.
For further information, please contact:
Bank of Uganda on email@example.com or
Deposit Protection Fund of Uganda on firstname.lastname@example.org.