The UK's Financial Conduct Authority has named new attachés in Mumbai and Abu Dhabi, aiming to deepen regulatory cooperation and attract investment into the UK's financial sector from Asia and the Middle East
The Financial Conduct Authority (FCA) is expanding its international reach by appointing senior attachés in India and the United Arab Emirates, a move designed to strengthen regulatory ties and encourage investment flows into the United Kingdom's financial markets. The FCA's new attaché in India, Sabina Saini, will be based at the British Deputy High Commission in Mumbai, while Darine Obeid will represent the FCA in the UAE from the British Embassy in Abu Dhabi. Both appointments are intended to support cross-border cooperation and align regulatory standards between the UK and two of the world's most dynamic financial regions.
Sabina Saini, who steps into her new role in Mumbai on 10 August, brings over 20 years of regulatory and banking experience. Since joining the FCA in 2024 as a policy manager, she has led work on the UK's "critical third parties regime and broader operational risk and resilience policy." Her background includes more than eight years at the Bank of England, where she advanced from senior internal auditor to manager for recovery and resolution policy. Saini has also held positions at the Monetary Authority of Singapore and HSBC, giving her a broad perspective on both regulatory frameworks and commercial banking operations across Asia and Europe.
Strengthening Regulatory Ties
In the UAE, Darine Obeid will assume her post on 31 August, operating from Abu Dhabi. Obeid joined the FCA in 2014 after working at KPMG, initially focusing on the supervision of large retail banks. Over her 12-year tenure at the FCA, she has managed teams overseeing major institutions such as HSBC and Santander. Most recently, she established and led a unit responsible for supervising a large fintech firm seeking full authorisation, as well as a clearing bank and a digital-only bank. Her experience reflects the FCA's increasing engagement with both traditional banks and emerging digital financial services in the region.
These appointments come as the FCA seeks to reinforce its international network, which already includes attachés in Australia and the United States. Camille Blackburn, based in Australia, manages the FCA's Asia-Pacific agenda, while Tash Miah, a former investment banker, was posted to Washington DC last year. The FCA's international director, Ruairí O'Connell OBE, has stated that the new attachés will help advance the UK's interests in financial services policy and drive investment into the UK's open market.
Data and Context
According to the UK's Office for National Statistics, the United Kingdom attracted £65.7 billion in foreign direct investment from Asia and the Middle East in 2025, accounting for nearly 30% of total inward investment. India and the UAE are among the fastest-growing sources of cross-border capital for the UK's financial sector, with bilateral investment agreements and regulatory cooperation frameworks playing a key role in facilitating these flows. The FCA's expanded presence is expected to support ongoing efforts to harmonise standards and reduce barriers for financial firms operating between these markets.
Efforts to improve regulatory cooperation are not limited to the UK. For example, India's Small Industries Development Bank recently adopted MonetaGo's Secure Financing system to combat invoice fraud and enhance credit access for small businesses, as reported in a recent analysis of digital finance initiatives in India. Such developments highlight the growing importance of robust regulatory frameworks and cross-border collaboration in supporting financial innovation and stability.
Expanding the FCA's Global Network
The FCA's attaché programme is part of a broader trend among major financial regulators to establish overseas offices and deepen engagement with key partner jurisdictions. By embedding senior staff in India and the UAE, the FCA aims to facilitate dialogue on regulatory policy, support UK-based firms seeking to expand abroad, and attract inward investment by providing clearer channels for communication and dispute resolution. These roles also enable the FCA to monitor emerging risks and trends in local markets, ensuring that UK regulatory policy remains responsive to global developments.
Attachés typically serve as liaisons between the FCA and local authorities, financial institutions, and industry groups. Their responsibilities include sharing best practices, coordinating on enforcement actions, and supporting the implementation of international standards such as anti-money laundering rules and operational resilience requirements. As financial markets become increasingly interconnected, the ability to anticipate and respond to cross-border risks is seen as essential for maintaining market integrity and protecting consumers.
Regulatory attachés play a unique role in bridging the gap between national authorities and the global financial system. Unlike traditional diplomats, their focus is on technical policy, supervision, and enforcement rather than political or trade negotiations. This distinction allows them to address complex issues such as fintech regulation, cyber risk, and cross-border payments with a level of expertise and operational insight that is often unavailable through standard diplomatic channels. As the FCA and other regulators expand their international footprints, the attaché model is likely to become an increasingly important tool for managing the challenges of a rapidly evolving financial landscape.
