Cut a small X into the bottom of each tomato.
Bring a large pot of water to a boil. Add the tomatoes, cover, and cook until the skins begin to loosen, about 10 minutes. Transfer to an ice bath.
Peel the tomatoes, cut into small pieces, and set aside.
Heat the canola oil in a large pot over medium heat. Add the peppers and garlic and cook until softened and lightly golden, about 3 minutes.
Add the tomatoes, salt, and sugar. Stir to combine.
Reduce the heat to low and cook, stirring occasionally, until the tomatoes break down and the mixture thickens, about 2 hours. If desired, mash lightly with a potato masher for a smoother texture.
Heat the oil in a small skillet. Add the paprika and cumin, if using, and stir until fragrant, about 30 seconds.
Pour the seasoned oil into the tomato mixture and stir well. Continue cooking until the matbuha is thick, glossy, and jamlike.
Cool completely before refrigerating. Serve with fresh bread.