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Uganda More Than Triples Deposits Insurance to Boost Confidence

Uganda more than tripled the amount which bank depositors will be compensated when a financial institution collapses to 10 million shillings ($2,722).

To boost confidence in banks, the Deposit Protection Fund increased the insured amount from 3 million shillings, a limit set 22 years ago, according to an emailed statement. About 98% of cash will be fully insured with the new threshold.