BRIDGETOWN, Barbados Verus International, the company whose owner Ajmal Khan is the founder of the Caribbean Premier League (CPL), has responded to a public statement last week by the Central Bank of Barbados about the company’s right to operate as a merchant bank on the island.

In a media release on Friday, Verus said it was “in receipt of correspondence from the Central Bank of Barbados setting out its objection to the use of the term “merchant bank” to describe its commercial activities”.
The company said it was cooperating with the Central Bank and sought to clarify the situation.
The release said: “Verus International is a private investment firm and licensed under the International Business Companies Act in Barbados since 1999. Any statement or misunderstanding to the contrary is regretted.
“Verus International looks forward to its continued investment in Barbados and the Caribbean region as well as the launch of the Caribbean Premier League.”
By way of further information the release stated that Verus invests its capital directly into companies. The Verus team has a global focus on proprietary investment opportunities with resources, expertise and relationships that can be leveraged to create significant value for its portfolio companies and strategic partners.
The CPL has signed an agreement with the West Indies Cricket for a period of 20 years. The first edition of the tournament is set to run from July 29 to August 26 this year.