$7.06 trillion UAE payments through FTS and ICCS in 2025 — Arabian Post

By Saifur Rahman

The full worth of 139.55 million funds by UAE FTS and ICCS final yr exceeded Dh25.9 trillion (US$7.06 trillion), in line with the UAE Central Financial institution.

This consists of the processing of 23.78 million bodily cheques valued at Dh1.5 trillion by the UAE Central Financial institution’s Picture Cheque Clearing System (ICCS) in 2025. A big chunk of those funds are linked to sale and buy transactions by companies that have been recorded by handbook and paper invoices.

The UAE Funds Switch System (UAEFTS) witnessed 114.9 million retail transactions valued at Dh9.9 trillion in 2025, in line with the UAE Central Financial institution – most of that are recorded by bodily invoices. Institutional transfers by UAEFTS totalled 865,708 transactions valued at Dh14.5 trillion in 2025.

Nevertheless, from January 1, 2027, most of these kind of transactions will change into a part of the E-Invoicing eco-system that may mirror on the FTA information actual time and assist enhance tax assortment, because the UAE shifts to E-Invoicing regime later this yr.

The E-Invoicing system can be obligatory for companies producing greater than Dh50 million turnover from January 1, 2027. Firms should choose the Accredited Service Suppliers (ASPs) from amongst the 28 authorised ASPs authorised by the UAE Federal Tax Authority (FTA) by July 1, 2026.

Mariam Abdullah Al Matroushi, Deputy Director of Fujairah Division of Finance and Member of the Board of Administrators on the Federal Tax Authority, mentioned, “The UAE is transferring steadily towards creating its tax system by adopting an e-invoicing system in lower than two months, in phases from January 1, 2027, beginning with corporations producing greater than Dh50 million turnover, that requires all stakeholders to start out making ready for E-Invoicing,

“This may change into obligatory for corporations with turnover lower than Dh50 million across the second half of 2027. This digital E-Invoicing system is clear and can assist all stakeholders in real-time processing VAT and Company Tax within the UAE.

“This step is a part of the UAE Authorities’s imaginative and prescient to construct a knowledge- and technology-based financial system, with E-Invoicing serving as a pivotal device to assist monetary innovation and strengthen integration between the private and non-private sectors.”

Greater than 125 billion E-Invoices have been processed in 2024 worldwide, together with 5 billion in Saudi Arabia the place E-Invoicing quantity, managed by Zakat, Tax and Customs Authority (ZATCA) by way of the Fatoorah platform, exceeded 8.2 billion invoices in 2025, representing a 64 per cent enhance from 2024 and highlighting fast digital adoption. As of early 2026, the combination course of is on-going in waves, with the twenty fourth wave of Part 2 focusing on companies with smaller income thresholds.

Additionally revealed on Medium.