Bridgetown.
The Central Bank of Barbados has changed its financial advisory on Verus International.
Two weeks the Bank issued a financial advisory warning the public that Verus International was not licensed to engage in merchant banking or any other activity regulated by the Central Bank of Barbados in or from within Barbados.
The advisory issued on April 9, stated:
"It has come to the attention of the Central Bank of Barbados that Verus International, a company incorporated in Barbados, is describing itself as a merchant bank based in Barbados.
The Central Bank of Barbados warns the public that Verus International is not licensed to engage in merchant banking, or any other activity regulated by the Central Bank of Barbados, in or from within Barbados.Members of the public who transact business with Verus International do so at their own risk.
A list of financial institutions regulated by the Central Bank of Barbados is published on its website under the main link".
Two days later, Verus issued a statement acknowledging that it was not a merchant butt a private investment company lcensed under the International Business Company Act since 1999.
Yesterday evening, the Central Bank issued a new advisory on Verus stating.
“The public is hereby informed that Verus International Ltd is an international business company licensed by the Ministry of Industry, International Business, Commerce and Small Development,” the bank regulator said in an updated notice on the matter.
“The entity no longer describes itself as, or implies that it is, a ‘merchant bank’ operating in or from Barbados and the Central Bank of Barbados is satisfied with the actions taken to address previous concerns,” it added.
Chairman and founder of Verus Internation Amal Khan is also the chairman and the founder of the Caribbean Premier League.
