In response to the rise in unauthorized financial services and fraudulent activities targeting citizens, the Financial Regulatory Commission (FRC) has taken decisive action to enhance financial oversight across the country. The FRC has granted state inspector rights to the heads of the Finance and Treasury Departments and registration specialists of the Governor’s Offices in all 21 provinces.

The measure aims to protect the interests of citizens, investors and customers while promoting a transparent and accountable financial environment. By empowering local officials, the initiative seeks to detect and prevent illegal financial operations more effectively and ensure stronger enforcement of financial laws in rural and regional areas.

According to the FRC, the expanded oversight authority will strengthen financial control mechanisms, improve the legal framework for financial product and service providers and reduce citizens’ exposure to fraud. It will also enhance access to accurate financial information, public awareness campaigns, and training programs, thereby supporting market stability and investor confidence nationwide.

To support the new inspectors, the FRC, in cooperation with the State Prosecutor General’s Office and the Police General Department, organized a specialized training course for the newly appointed state inspectors. The training focused on the legal framework governing inspections, the handling of violation cases and disputes, and the procedures for investigation and resolution. This initiative is designed to equip inspectors with the knowledge and tools necessary to identify and address financial violations efficiently and lawfully. The FRC announced that it will continue to work closely with local inspectors to build their professional capacity and strengthen coordination among regulatory, law enforcement, and prosecutorial institutions.