BRIDGETOWN, Barbados,  (CMC) – The merchant bank set to bankroll the multi-million dollar Caribbean Premier League  (CPL) is not licensed to do business here, the Barbados Central Bank said Tuesday.

Verus International, run by chairman and chief executive Ajmal Khan, recently signed a long term deal with the West Indies Cricket Board to host the lucrative Twenty20 tournament, starting in July.
However, the Central issued a “warning notice” advising that any people doing business with the company would be doing so at their own risk.
“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 said.
“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 ‘Financial System’.”
Verus International announced earlier this year it would bankroll the CPL, which replaces the Caribbean Twenty20. On its website, the company describes itself as a “merchant bank” with offices in New York and Barbados.
The Barbados office is listed at Brittons Hill in St Michael, on the outskirts of the city.
According to organisers, the CPL will feature six franchises based in six Caribbean cities and will involve leader T20 players from around the globe.