The Financial Investigation Division (FID) has charged Alliance Finance Limited with breaches of the Bank of Jamaica Act and the Banking Services Act.
A news release issued on Thursday night by Alliance Finance said the charges are in connection with the disbursement of loans including insurance premium finance facilities in US dollars.
The charges were laid following a question and answer session with Alliance Finance's non-executive directors, Peter Chin and Robert Chin.
Both men are scheduled to appear in court on December 16 to answer to the charges on behalf of the company.
Alliance Finance said, to the best of its knowledge, it is currently in good standing with all financial guidelines and regulations.
The company's attorney, Tom Tavares-Finson, was quoted in the news release as saying Alliance Finance immediately alerted the Bank of Jamaica when concerns were raised years ago about a few transactions following an internal review process.
Alliance Finance's core business is insurance premium financing and short term loans.
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