International investor Sergey Entts is spearheading an initiative to build a financial technology ecosystem connecting Central Asia with global capital, using Dubai as a strategic base. Entts, who holds interests in Dubai and Cyprus and is the chairman of the new Muras Bank in Kyrgyzstan, aims to simplify cross-border securities trading.
His goal, he explained, is to make undervalued securities from Central Asian markets accessible to international investors while allowing regional investors to access foreign markets. “My personal mission is to make trading securities between, say, Kyrgyzstan and the UAE as seamless as ordering food online: fast, efficient, and powered by the full potential of fintech,” Entts said.
The Kyrgyz Focus
The decision to establish a new bank in Kyrgyzstan was driven by the country’s growth potential and developing financial sector. Entts highlighted recent moves by Kyrgyz authorities to create a legal framework supportive of foreign investment. A key development was the 2022 Investment Law, which guarantees equal rights for domestic and international investors, including foreign ownership of up to 20 per cent in local companies with full management rights.
He also pointed to a 2014 bilateral agreement between the UAE and Kyrgyzstan on the mutual protection of foreign investments as a critical factor. The most significant recent milestone, according to Entts, was the government’s first issuance of sovereign bonds. The $700 million issuance establishes a benchmark for corporate securities and signals a maturing market. Entts believes the country’s undervalued local companies present a significant opportunity for early entrants.
Dubai as a Strategic Hub
Dubai serves as the ideal launchpad for this cross-border venture. Entts described the city as a global investment magnet, strategically located between Europe, Asia, and Africa. He noted that its diversified economy, with over 90 per cent now driven by non-oil sectors, and ambitious plans like the Dubai Economic Agenda 2033 (D33) signal long-term stability and growth.
The presence of a robust regulatory environment, managed by bodies like the Dubai Financial Services Authority (DFSA), provides a trusted ecosystem for investors. “UAE investors, in particular, are known for their openness to new markets and their appetite for being early entrants,” Entts stated, suggesting their involvement often sets a trend for financiers across the Middle East.
Building a Modern Bank
Muras Bank is central to executing this vision. Having received regulatory approval and completed its initial capital injection, the bank is now in its operational setup phase. The next steps involve securing a basic banking licence, followed by a brokerage licence.
While the bank will offer standard services like deposits and loans, its core strategy is to create value in areas where client needs are still emerging. Entts emphasised that his team’s expertise in both securities and banking will allow them to develop unique financial instruments. The focus is on carving out a niche with specialised offerings rather than competing on price alone.
To support the project, seasoned securities market expert Alexey Skorodumov has joined the Muras Bank board and will be central to the Dubai venture. Entts, who recently acquired a stake in a Dubai financial firm, confirmed that while the project is in its early stages, interest from UAE investors in emerging markets and fintech platforms is strong.
