HARGEISA, March 20 (Horn Diplomat) – Lawmakers in the United States Congress have introduced a bill requiring the U.S. Treasury to examine obstacles limiting Somaliland’s access to the American and global financial system, in a move that could deepen economic engagement with the Horn of Africa nation.
The bill directs 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 financial systems, including banking channels and international payment networks.
Somaliland, which has strengthened its international standing following recognition by Israel in December 2025, has long faced difficulties accessing global finance, with banks and businesses operating under constraints linked to compliance risks and limited correspondent banking ties.
The proposed report would assess Somaliland’s adherence to anti-money laundering and counter-terrorism financing (AML/CTF) standards, and recommend steps to improve transparency, oversight and financial integrity.
It would also explore how the United States could support more secure and reliable financial linkages with Somaliland, as Washington increasingly views Somaliland as strategically important along key maritime routes in the Red Sea and Gulf of Aden.
The bill has been referred to the House Committee on Financial Services and remains at an early stage in the legislative process. It would need approval from both chambers of Congress and the president’s signature before becoming law.
Analysts say the initiative reflects growing interest in strengthening economic and security ties with Somaliland, where limited financial access has been cited as a barrier to trade, investment and broader development.
If enacted, the legislation could mark a significant step toward integrating Somaliland more fully into the global financial system while aligning with broader U.S. strategic interests in the region.
