Bridgetown.
The Central Bank of Barbados has warned Barbadians and investors that Versus International the company financing the Caribbean Premier League (CPL) is not licensed to engage in merchant banking or any other activity regulated by the Central Bank of Barbados in or from within Barbados.
The warning notice on the bank's website states:
"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".
According to a bio of Versus which was distributed to the media at the launching of the CPL on February 12:
"Versus International is merchant bank in Barbados and New York founded by president and chairman, Ajmal Khan. Verus invests its capital directly into companies and provides merchant banking and advisory services for a select group of strategic partners. The Verus team has a global focus on proprietary investment opportunities with resources, expertise and relationships that can be leveraged to greate significant value for its portfolio companies and strategic partners. The company also manages the private family office for the Khan familly", the bio said.
In addition to a office on 57th Street, New York, Verus has a office at L' Horizon Gunsite Road, Brittion Hill, St Michael.
Last December, at at a press conference announcing the licensing agreement between the West Indies Cricket Board and Verus International to establish the CPL, former president of the board Jullian Hunte said a due dilligence was done on the bank.
The inaugural CPL is due to start in July and end in August, six franchise teams, based in six Caribbean countries are slated to play in the tournament.
Six West Indian players Chris Galye, Darren Sammy, Dwayne Bravo, Kieron Pollard, Marlon Samuels and Sunil Narine have already signed to play in the tournament.
Ricky Pointing, Allan Gilchrist of Australia and Ross Talyor of New Zealand are the international players signed to play in the competition so far.
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