▁determ ines ▁that ▁the ▁failed ▁institution ▁will ▁fetch ▁a ▁better ▁economic ▁return ▁if ▁sold ▁as ▁a ▁whole , ▁then ▁it ▁will ▁re - open ▁under ▁new ▁ownership ▁and ▁management , ▁provided ▁the ▁new ▁own ers ▁and ▁man agers ▁meet ▁the ▁appro val ▁of ▁the ▁Bo U . ▁ ▁In ▁September ▁ 2 0 1 9 , ▁U g anda ' s ▁Fin ance ▁Ministry ▁increased ▁the ▁amount ▁of ▁protected ▁depos its ▁from ▁U Sh s 3 ▁million ▁( US $ 8 3 0 ) ▁to ▁U Sh s 1 0 ▁million ▁( US $ 2 , 7 6 0 ). ▁As ▁of ▁that ▁date , ▁the ▁fund ▁covered ▁depos its ▁in ▁ 3 4 ▁contrib uting ▁financial ▁institutions , ▁including ▁ 2 4 ▁commercial ▁banks , ▁ 5 ▁credit ▁institutions ▁and ▁ 5 ▁micro ▁fin ance ▁depos it - t aking ▁institutions . ▁ ▁History ▁Following ▁the ▁collapse ▁of ▁Te efe ▁Bank ▁in ▁ 1 9 9 3 , ▁the ▁Bo U ▁lost ▁money ▁when ▁it ▁was ▁forced ▁to ▁re im bur se ▁depos itors ▁from ▁its ▁own ▁coff ers . ▁In ▁July ▁ 1 9 9 4 , ▁the ▁Bo U ▁established ▁the ▁a ▁fund ▁as ▁a ▁department ▁of ▁the ▁bank , ▁with ▁three ▁object ives : ▁▁ ▁protect ▁small ▁depos itors ▁from ▁losing ▁their ▁sav ings ▁if ▁and ▁when ▁banks ▁failed ▁ ▁maintain ▁the ▁stability ▁of ▁U g anda ' s ▁financial ▁sector ▁and ▁pay ments ▁system ▁ ▁enh ance ▁public ▁confidence ▁in ▁the ▁bank ing ▁system ▁and ▁the ▁financial ▁sector