SunTec Bolsters Mashreq’s E-Invoicing for UAE’s Digital Tax Evolution

Mohammed Fathy

Last updated 22-04-2026

4 min

SunTec deepens Mashreq partnership as UAE moves to mandatory e-invoicing by 2027.

Large firms must send structured XML invoices to the FTA in near real time.

Banks face “rewiring a house” complexity amid hybrid invoicing models.

SunTec’s approved ASP platform enables integration without disrupting core systems.

Penalties are steep, but e-invoicing could unlock new banking services and efficiencies.

SunTec Business Solutions is deepening its work with Mashreq as the UAE edges closer to mandatory e-invoicing, building on a seven-year relationship centred on VAT compliance. This time, the focus is preparing the bank for the Federal Tax Authority’s upcoming e-invoicing framework, a shift that many in the financial sector quietly admit will be anything but straightforward.

Under Ministerial Decisions No. 243 and No. 244 of 2025, businesses in the UAE will need to issue structured, machine-readable XML invoices and transmit them in near real time to the FTA through an Accredited Service Provider (ASP). Large organisations generating AED 50 million or more in annual revenue must comply by 1 January 2027. They are also required to appoint an ASP no later than 31 July 2026. The pilot phase kicks off on 1 July 2026 with a selected taxpayer group, while voluntary adoption opens to all businesses on the same date. Full enforcement for all VAT-registered companies follows by 1 July 2027.

For banks, this isn’t just ticking a compliance box. With thousands of B2B transactions processed daily, from standard-rated service fees to exempt interest and out-of-scope activities, the technical lift is significant. One tax advisor I once spoke with described banking compliance as “like rewiring a house while the lights are still on”. That always stuck with me. And here, the house is huge.

Nanda Kumar, Founder and CEO of SunTec Business Solutions, said the company’s e-invoicing solution builds on the same “over-the-top, non-disruptive” architecture used for VAT compliance across leading UAE financial institutions. He noted that the product has been designed specifically with the complexities of banking in mind and expressed pride in supporting Mashreq’s next step in digital tax readiness.

Mashreq’s Global Head of Taxation, Nassim Tanouti, framed e-invoicing as part of the UAE’s wider digital transformation. He said the bank is focused on early preparedness while ensuring operational efficiency, adding that working with established platforms and partnerships would help accelerate the transition while staying aligned with changing regulatory expectations.

That said, compliance is only one side of the coin. As the UAE adopts what is known as a decentralised continuous transaction control and exchange (DCTCE) model, banks will have to operate in a hybrid setup. Some customers will still be using conventional invoicing, while others move to real-time exchange through ASPs. Managing both, without creating a bit of a faff for clients, will require tight interoperability.

On the flip side, there is opportunity. E-invoicing creates what many call a network effect, connecting banks, businesses and service providers in a more standardised ecosystem. In practical terms, that could allow banks to embed services such as financing, reconciliation, or even cash-flow insight tools directly into invoicing workflows. I reckon this is where things get interesting. Compliance may be the headline, but innovation often sneaks in through the back door.

SunTec Xelerate e-Invoicing integrates with existing banking systems, enabling invoice validation and transmission without disrupting core infrastructure. SunTec’s Dubai-registered entity, SunTec (Xelerate) Business Solutions DMCC, has been approved by the Ministry of Finance as an official ASP after meeting the required technical and regulatory standards, including Peppol Access Point certification. The company operates out of Jumeirah Lakes Towers with dedicated implementation and support teams for UAE financial institutions.

Non-compliance, meanwhile, could prove costly. Penalties include AED 5,000 per month, per-document fines, and daily charges for unreported system failures. For large institutions, that definitely sharpens the incentive to get systems in place early.

At Arageek, we’ve seen time and again how regulatory shifts in the Gulf push companies to modernise faster than they might have planned. Sometimes it feels like a mountain to climb, well… I mean, especially for heavily regulated sectors like banking. But when done properly, these transitions can end up being spot on for long-term digital maturity.

The clock is ticking towards 2027. For Mashreq and others in its league, the groundwork is already being laid. The next phase will test how smoothly regulation, technology and day-to-day banking operations can move together, without missing a beat.

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