The competition, which has received approval from the International Cricket Council, will be held in Belgium from June 6 to 14, with matches taking place in Brussels.
There are six teams, representing the Belgian cities of Antwerp, Bruges, Leuven, Liege, Ghent and Brussels, taking part in the EUT20 Belgium.
The draft for the first season is scheduled for March 24 in Brussels, although Shakib has already secured a team through a direct signing.
The Bangladesh all-rounder has been enjoying a break since playing in the International League T20 and is currently working on his fitness in a bid to return to international cricket.
Meanwhile, Andre Russell has also secured a franchise deal and will represent the Antwerp-based team. Several other global stars have registered for the draft, including Rashid Khan, Wanindu Hasaranga, Alex Hales, Faf du Plessis, Rilee Rossouw, Kieron Pollard and Mohammad Amir.
Former England captain Eoin Morgan has been named as the tournament’s brand ambassador.