National Bank of Fujairah and GENAVCO Sign MoU to Strengthen Equipment Financing Across Key Industrial Sectors

Agreement signed during Make it in the Emirates supports businesses operating across construction, infrastructure, logistics, and industrial sectors

Abu Dhabi, United Arab Emirates – 18 May 2026: National Bank of Fujairah PJSC (NBF) has signed a Memorandum of Understanding (MoU) with GENAVCO, a proud affiliate of Juma Al Majid Holding Group LLC, to establish a strategic partnership. The agreement is aimed at supporting customers across the construction, infrastructure, logistics, and industrial sectors through tailored financing and banking solutions.

The MoU was signed by Rehan Ali, Head of Business Banking at National Bank of Fujairah, and Asif Khan, General Manager at GENAVCO Group, on the sidelines of Make it in the Emirates 2026, reinforcing a shared commitment to supporting long-term industrial development and advancing the UAE's economic growth agenda.

Commenting on the partnership, Rehan Ali, Head of Business Banking at National Bank of Fujairah, said: "This partnership with GENAVCO reflects NBF's continued focus on supporting businesses operating across key industrial and infrastructure sectors. By working closely with industry leaders with deep-rooted expertise in the UAE market, we aim to provide commercially relevant financing solutions that help businesses invest in equipment, manage working capital requirements, and scale operations with confidence."

Under the MoU, NBF will work with GENAVCO to support customers through tailored equipment financing solutions, facilitating access to financing for the purchase of commercial vehicles, construction equipment, quarry and mining machinery, and industrial equipment.

Asif Khan, General Manager at GENAVCO Group, said: "This collaboration marks an important step in strengthening support for businesses operating across the UAE's industrial and infrastructure sectors. Through this partnership, we look forward to enabling customers with easier access to equipment and tailored financial solutions that support operational efficiency, business expansion, and sustainable long-term growth."

In addition, both parties will explore collaborative financing programmes aimed at enhancing customer affordability and improving access to essential equipment. Businesses will also benefit from working capital and equipment financing solutions aligned with operational requirements, alongside expanded access to banking, treasury, and financial solutions tailored to industrial needs.

The arrangement further supports closer engagement through customer referrals and strategic financing discussions, reinforcing NBF's relationship‑driven banking approach.

The partnership builds on NBF's active presence at Make it in the Emirates 2026, where the bank has engaged with industrial and commercial businesses to discuss financing, trade, and growth opportunities aligned with the UAE's industrial transformation agenda.