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DPF Struggles to Trace Depositors from Liquidated Banks As Millions Remain Unclaimed » Business Focus
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DPF Struggles to Trace Depositors from Liquidated Banks As Millions Remain Unclaimed » Business Focus
EFC Uganda Limited was closed in January 2024 The Deposit Protection Fund (DPF) is grappling with challenges in tracing all account holders from two recently liquidated commercial banks, leaving millions of shillings unclaimed. In January and June 2024, the Bank of Uganda closed EFC Uganda Limited and Mercantile Credit Bank Limited, citing poor corporate governance and failure to meet the minimum capital requirements for financial institutions. …
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