At least in my books it doesn't - but it seems to be 50/50 split. I think it should sound more like the Basil in Basil Rathbone not Bayzel. In Latin it's Basilicum. The Italians call it Basilico. The purple variety I have, ocimum basilicum, is instantly redolent of an Italian trattoria. Yum. Here's a series of pronunciations via Forvo.