Mashreq Partners with SunTec to Meet UAE’s E-Invoicing Requirements

As the United Arab Emirates (UAE) prepares to implement its mandatory electronic invoicing framework, Mashreq Bank has expanded its compliance partnership with SunTec Business Solutions to ensure a smooth transition.

The UAE’s e-invoicing mandate, established under Ministerial Decisions No. 243 and No. 244 of 2025, requires businesses to issue structured XML invoices that can be read by machines. These documents must be transmitted in near real-time to the Federal Tax Authority (FTA) through an Accredited Service Provider (ASP).

Large institutions with annual revenues exceeding AED 50 million must comply by January 1, 2027, and are required to appoint an ASP by July 31, 2026. Given that the UAE banking sector now manages over AED 5.4 trillion in assets, this transition represents a particularly complex challenge.

Building on Existing Collaboration

Mashreq is leveraging SunTec’s Xelerate e-Invoicing platform, which offers non-disruptive integration with existing systems while enabling real-time invoice validation and transmission.

“For seven years, SunTec has been the compliance backbone for leading UAE financial institutions,” said Nanda Kumar, founder and CEO of SunTec. “Our e-invoicing product extends that same architecture — over-the-top, non-disruptive, and built from the ground up for banking’s specific complexities.”

The platform was recently approved by the UAE Ministry of Finance as an official ASP after meeting all technical and regulatory requirements, including Peppol Access Point certification.

Benefits Beyond Compliance

Nassim Tanouti, global head of taxation at Mashreq, emphasized the strategic value of this digital shift:

“E-invoicing represents an important step in the UAE’s broader digital transformation agenda. Leveraging proven platforms enables us to accelerate this transition while staying aligned with evolving regulatory expectations.”

The move offers significant benefits across the ecosystem:

  • Cost reduction: Up to 80% savings on processing costs
  • Enhanced fraud controls: Real-time validation limits revenue leakage
  • Faster transactions: Improved efficiency for both businesses and customers
  • SME support: Verified digital invoices facilitate access to financing