Fanar Advisor (โFanarโ), an AJMS Group entity and boutique advisory firm headquartered in the UAE with a presence across multiple jurisdictions, has signed a Memorandum of Understanding (MoU) with National Bank of Fujairah PJSC (NBF) to establish a structured Direct Sales Agent (DSA) partnership.
The collaboration will support NBFโs customer acquisition strategy across SME and corporate banking products, reinforcing a disciplined and scalable distribution framework. The MoU formalises a collaborative framework under which Fanar will act as a Direct Sales Agent and referral partner, supporting lead generation, customer onboarding coordination, and market outreach for selected NBF banking products, in full alignment with UAE Central Bank regulations and NBFโs internal governance standards.
Governance-First Distribution Partnership
Commenting on the signing, Dr. Abhishek Jajoo, Chairman, AJMS noted that the partnership reflects a shared commitment to responsible growth, regulatory compliance, and customer-centric banking distribution and said: โThis MoU is built on strong governance foundations. Our role is to support NBFโs growth objectives while maintaining the highest standards of market conduct, transparency, and regulatory alignment. We see significant opportunity in supporting digital banking models, including structured universal account solutions and AI-enabled service frameworks that enhance operational efficiency and customer engagement.โ
Commenting on the collaboration, Mr. Adnan Anwar, Chief Executive Officer of National Bank of Fujairah, stated: โAt National Bank of Fujairah, we are committed to expanding our reach across the SME segment through disciplined, compliance-led partnerships. Our collaboration with Fanar strengthens our distribution ecosystem while ensuring that customer protection, regulatory adherence, and service excellence remain central to our growth strategy. We see this partnership as an extension of our digital and relationship banking model, designed to better serve entrepreneurs and growing businesses across the UAE.โ
The partnership is designed to operate strictly within an approved DSA framework, ensuring that all product offerings, approvals, and contractual relationships remain solely with National Bank of Fujairah.
Supporting NBFโs SME and Digital Banking Strategy
Through this collaboration, Fanar will leverage its business setup, advisory, and client acquisition ecosystem to introduce qualified SME, startup, and corporate clients to NBF, supporting account opening and product origination across agreed banking services. The initiative complements NBFโs digital-first banking platforms.
Compliance-Led Execution Model
The MoU embeds strong compliance safeguards, ensuring:
- Strict adherence to UAE Central Bank Consumer Protection Regulations
- Alignment with AML/CFT and KYC requirements, with all due diligence and onboarding decisions retained by NBF
- Controlled sales conduct, approved scripting, and prohibition of mis-selling or inducement-based practices
- Clear segregation of responsibilities between the bank and the DSA partner
Fanar will operate exclusively as a referral and sales support partner and will not provide financial advice, approve products, or represent the bank contractually.
Creating Value Through Structured Distribution
The partnership aims to deliver measurable value to NBF through:
- Consistent flow of pre-qualified SME and corporate leads
- Reduced onboarding turnaround times through centralized coordination
- Enhanced market reach among entrepreneurs, startups, and growing businesses
- Data-driven reporting on leads, conversions, and operational performance
Strengthening the Banking Ecosystem
The MoU underscores both partiesโ commitment to building a sustainable, compliant, and scalable banking distribution ecosystem that supports economic activity, entrepreneurship, and financial inclusion in the UAE. The signing ceremony was held at the National Bank of Fujairahโs premises in Dubai, on 13th February, 2026, marking the commencement of the partnership.
