HARGEISA, March 21 (Horn Diplomat) – Somaliland’s government has welcomed the introduction of a U.S. congressional bill aimed at addressing barriers to its access to the global financial system, describing the move as a step toward stronger economic and security ties with Washington.
The legislation, H.R. 7993, known as the Somaliland Economic Access and Opportunity Act, was introduced in the United States Congress by John Rose and co-sponsored by Pat Harrigan and Andy Ogles.
The bill requires the U.S. Secretary of the Treasury to submit a comprehensive report to Congress within 180 days outlining legal, regulatory and technical barriers that restrict Somaliland’s access to U.S. and international financial systems.
Somaliland’s Ministry of Foreign Affairs welcomed the move, describing it as a positive step toward strengthening ties with Washington.
“We welcome the introduction of the Somaliland Economic Access and Opportunity Act by @RepJohnRose, with support from @PatHarriganNC and @AndyOgles. This is a constructive step toward enhanced financial access, transparency, and stronger U.S.–Somaliland partnership,” the ministry said in a statement posted on X.
Somaliland’s Minister of Foreign Affairs, Abdirahman Dahir Adam, described the bill as “a landmark step for Somaliland–U.S. relations and regional stability.”
“Grateful to @RepJohnRose and cosponsors @PatHarriganNC and @AndyOgles for recognizing that Somaliland’s financial inclusion and transparency advance our shared economic and security interests,” he said in a separate post on X.
The proposed legislation aims to assess Somaliland’s compliance with anti-money laundering and counter-terrorism financing (AML/CTF) standards, and identify steps to strengthen transparency, accountability and financial integrity.
It also seeks to explore how the United States could facilitate safer and more reliable financial engagement with Somaliland, as Washington increasingly views Somaliland as strategically important along key maritime routes in the Red Sea and Gulf of Aden.
Somaliland, which has strengthened its international standing following recognition by Israel in December 2025, continues to face challenges accessing global banking systems, with limited correspondent banking relationships and regulatory constraints affecting trade and investment.
The bill has been referred to the House Committee on Financial Services and remains at an early stage of the legislative process.
Analysts say the initiative reflects growing U.S. interest in Somaliland as a stable and strategic partner in the Horn of Africa, and could pave the way for deeper economic cooperation if advanced.
