National Bank of Fujairah (NBF) and GENAVCO, an affiliate of Juma Al Majid Holding Group, have entered into a strategic partnership designed to improve access to equipment financing for businesses operating across the UAE’s construction, infrastructure, logistics and industrial sectors.
The companies signed a Memorandum of Understanding (MoU) during Make it in the Emirates 2026 in Abu Dhabi, reinforcing their shared commitment to supporting industrial growth and contributing to the UAE’s economic diversification and industrial transformation agenda.
The agreement was signed by Rehan Ali, Head of Business Banking at NBF, and Asif Khan, General Manager of GENAVCO Group. Under the partnership, the two organisations will collaborate to provide tailored financing and banking solutions that enable businesses to acquire essential assets, including commercial vehicles, construction equipment, quarry and mining machinery, and other industrial equipment.
The collaboration combines NBF’s banking and financial expertise with GENAVCO’s extensive experience in the supply and distribution of heavy equipment and commercial vehicles. Through the initiative, customers will gain access to flexible equipment financing options, as well as working capital facilities, treasury services and broader corporate banking solutions aligned with operational and project requirements.
In addition to equipment finance, both parties will explore collaborative programmes aimed at improving affordability and reducing barriers to equipment acquisition. The arrangement will also support customer referral initiatives and strategic financing discussions intended to help businesses secure the resources needed to expand operations and improve productivity.
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.”
Asif Khan, General Manager at GENAVCO Group, added: “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.”
The partnership builds on NBF’s active participation at Make it in the Emirates 2026, where the bank has been engaging with industrial and commercial businesses on financing, trade and growth opportunities. Both organisations said the agreement reflects a long-term commitment to supporting enterprise development, fleet modernisation and investment across the UAE’s key industrial sectors.
