AKIPRESS.COM - The National Bank of the Kyrgyz Republic (NBKR) has approved the appointment of Cypriot entrepreneur Sergey Entts as Chairman of the Board of Directors of CJSC Muras Bank (the editorial office has a relevant document at its disposal). The bank, registered as a legal entity in June of this year, is currently awaiting its operating license.

Azamat Omuraliev, who previously headed branches of Bai Tushum and Rosinbank, has taken up the role of the Chief Executive Officer. The bank is yet to form the entire management team.

Corporate registry records confirm that Sergey Entts is the sole shareholder of Muras Bank. Holding a degree in economics, Entts brings more than three decades of experience managing financial projects across emerging markets. His business portfolio spans Central Asia, the Middle East, and Europe. Sergey Entts aims to build an international platform offering consulting, investment banking, and brokerage services. At Muras Bank, his strategy will focus on transactions involving Kyrgyz securities, as well as assets traded on global stock exchanges.

“The financial services market in Kyrgyzstan has been growing rapidly, giving us an opportunity to apply our banking and investment expertise here,” Sergey Entts noted. “What makes the Kyrgyz market especially attractive now is that the state has entered the borrowing market for the first time by issuing its own securities. This is typically the first step in developing a mature securities market, and we are eager to participate in this process.”

Currently, there are 21 banks operating in Kyrgyzstan. Establishing a new bank in the country requires a minimum charter capital and a license from the NBKR, which is generally issued within six months from the date of permission to submit all necessary documents.