Photo illustration: U.S. Treasury Secretary Scott Bessent (left) and Representative John Rose are pictured alongside the Somaliland flag. At a House hearing on September 15, 2026, Bessent agreed to seek a briefing on Rose’s bill examining barriers to Somaliland’s access to the U.S. financial system.
WASHINGTON, Sept. 16 (Horndiplomat) — U.S. Treasury Secretary Scott Bessent said he would seek a briefing next week on a bill examining barriers to Somaliland’s access to the U.S. financial system, after Representative John Rose pressed him on the proposal at a congressional hearing on Tuesday.
Rose, a Republican from Tennessee, told the House Financial Services Committee that his Somaliland Economic Access and Opportunity Act, H.R. 7993, would require Treasury to report to Congress on the principal legal, regulatory and policy obstacles limiting that access.
The proposed assessment would cover financial compliance standards, remittance flows, access to international financial institutions and steps that could allow Somaliland to participate in the SWIFT financial messaging system, Rose said. The bill also calls for recommendations on expanding lawful financial access while reducing risks linked to money laundering and other illicit activity.
“Somaliland is a valuable partner for the United States,” Rose said. He cited its position near major Gulf of Aden shipping routes and argued that closer economic ties could advance U.S. interests as China expands its influence in the Horn of Africa.
Rose said he had met Somaliland President Abdirahman Mohamed Abdullahi earlier that day during the president’s visit to Washington.
Asked whether stronger financial ties could advance U.S. security and economic interests, Bessent deferred to the State Department on the question of Somaliland’s recognition. He said stronger economic engagement with the United States generally helped create development and resources.
Rose then asked Bessent to review the bill and its proposed study of financial barriers. Bessent agreed to look at the legislation, saying: “I will have my international affairs department give me a briefing next week.” He said Treasury would engage with Rose’s staff afterward.
When Rose asked whether Treasury had the expertise and capacity to complete the proposed assessment within 180 days, Bessent replied: “Yes, sir.”
The bill was introduced in March by Rose with Representatives Pat Harrigan and Andy Ogles as co-sponsors. At the time, Somaliland’s Foreign Ministry welcomed it as a “constructive step” toward greater financial access and a stronger partnership with Washington.
Bessent’s remarks committed Treasury to reviewing the proposal and discussing it with Rose’s office. He did not endorse the bill’s passage or announce a change to Somaliland’s access to the U.S. financial system.
