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The UK’s Financial Conduct Authority just got bigger. The FCA named Sabina Saini and Darine Obeid as its new financial services attachés for India and the UAE — two of the fastest-growing financial markets on the planet.
Sabina is already on the ground. She started August 10, 2026, working out of the British Deputy High Commission in Mumbai. Darine follows shortly after, set to begin August 31 at the British Embassy in Abu Dhabi. Together, the two appointments push the FCA’s global attaché network to seven known posts — Washington DC, Brussels, Singapore, Asia-Pacific, and now Mumbai and Abu Dhabi added to the list. It’s a pretty significant footprint for a regulator that, not long ago, kept most of its international work closer to home.
Not just symbolic moves.
Who Sabina Saini and Darine Obeid Are
Sabina brings close to 20 years in financial regulation. Before landing in Mumbai, she managed critical third-party regimes and operational risk policies inside the FCA itself. She also did stints at the Bank of England across several different roles — so she’s not walking into a new world. She knows how regulators think, how they argue, and probably how they stall.
Darine’s background is different but just as dense. She’s spent over a decade at the FCA, with her focus on supervision across retail banking, wholesale banking, and fintech. That last bit matters. The UAE — Abu Dhabi and Dubai both — has become a serious hub for crypto firms, digital asset exchanges, and fintech players looking for a friendlier regulatory climate than they’d find in Europe or the US. Darine’s fintech background probably wasn’t accidental.
Ruairí O’Connell, the FCA’s International Director, said the appointments are about building better collaboration with counterparts in India and the Gulf region. The FCA wants stronger ties, and it’s betting that having people physically present — not just flying in for meetings — gets results faster.
The FCA’s Broader Push for Global Influence
The FCA has been pretty open about its international ambitions. Its growth strategy running to 2030 puts boosting exports and pulling in inward investment near the top of the list. Placing experienced staff in key markets is basically the execution of that plan — less a diplomatic gesture, more a business development move dressed in regulatory clothing.
India fits that picture well. The country’s financial sector has expanded at a pace that’s hard to ignore, and UK firms have long had a presence there. Getting an FCA attaché embedded in Mumbai means the regulator can have real conversations with Indian counterparts rather than relying on letters and video calls.
The UAE angle is maybe even more pointed. Abu Dhabi and Dubai have spent years building out financial free zones and regulatory frameworks specifically designed to attract international capital. The FCA signing an Exchange of Letters with the International Financial Services Centres Authority — that happened February 11, 2026 — was an early signal that the two sides were already talking seriously. Darine’s appointment looks like the next step in that relationship.
The IFSCA deal is worth noting. It’s not a full memorandum of understanding, and the FCA hasn’t spelled out exactly what the Exchange of Letters commits either side to. But it’s a formal signal of intent, and those tend to matter when firms are deciding where to set up shop.
What This Means for Crypto and Fintech Firms
For crypto exchanges and fintech companies operating in the UAE or India, the FCA’s physical presence changes the dynamic a bit. Regulators who are actually in the room — attending local industry events, meeting with local authorities on a weekly basis — tend to move faster on questions of recognition, equivalence, and information-sharing than ones operating from London.
It doesn’t mean automatic friendliness. The FCA has been one of the stricter regulators on crypto marketing and consumer protection. Firms that thought Abu Dhabi put them beyond the FCA’s reach may want to think again, especially if they have any UK-facing business.
And for UK-based firms eyeing expansion into India or the Gulf, having an FCA contact who actually knows the local landscape is probably useful. Less guesswork on what the local rules say, and how they line up — or don’t — with what the FCA expects back home.
The FCA hasn’t said whether more attaché appointments are coming. No details on that yet.
Frequently Asked Questions
When did Sabina Saini start her role as FCA attaché in India?
Sabina Saini started on August 10, 2026, based at the British Deputy High Commission in Mumbai.
What agreement did the FCA sign with the IFSCA?
The FCA signed an Exchange of Letters with the International Financial Services Centres Authority on February 11, 2026, aimed at strengthening regulatory ties between the two bodies.
Why It Matters
The FCA's expansion into key financial hubs like Mumbai and Abu Dhabi underscores the growing importance of these markets in the global financial landscape. As India and the UAE continue to attract significant investment and innovation, the FCA's presence may facilitate stronger regulatory collaboration and enhance the UK's influence in shaping international financial standards. This move reflects a strategic effort to ensure that UK-based firms can effectively navigate and capitalize on the emerging opportunities in these dynamic economies.
