The Deposit protection Fund of Uganda (DPF), which is also referred to as the Fund, was established as a separate legal entity following the enactment of the Financial Institutions (Amended) Act, 2016. Prior to this, DPF was managed by Bank of Uganda.

The process of operationalizing the Fund commenced in April 2017 with the inauguration of the Board of Directors by Honorable Minister of Finance, Planning and Economic Development.