HARGEYSA (Kaab TV) – The Somaliland government has strongly supported a new legislative initiative introduced by U.S. Congress members to the U.S. Secretary of the Treasury, aimed at opening opportunities for the Republic of Somaliland to participate in U.S. economic and banking systems.
The bill, sent to the U.S. Secretary of the Treasury on March 19, 2026, was introduced by Representative John Rose from Tennessee’s 6th congressional district, with co-sponsorship from Representatives Pat Harrigan (North Carolina) and Andy Ogles (Tennessee’s 5th congressional district).
What is the new initiative about?
The proposed legislation, currently in its initial stage, acknowledges a major challenge: Somaliland faces significant barriers accessing U.S. and international financial systems. This affects consumer banking, trade, counterterrorism, and anti-money laundering efforts.
These barriers impact the 6.2 million citizens of Somaliland and limit the country’s economic cooperation with strategic partners.
The bill directs the U.S. Secretary of the Treasury to submit a comprehensive report to Congress within 180 days, analyzing:
- Legal and regulatory obstacles to financial access, including the SWIFT payment system
- Compliance with international AML/CTF standards
- Steps Somaliland can take to enhance transparency
- How the U.S. can facilitate responsible financial engagement
Somaliland’s banks and financial institutions are still unable to operate directly with the global financial system because Somaliland has not received widespread international recognition, despite having maintained security, a passport, a flag, its own military, and consecutive democratic elections for over 36 years.
If passed, this bill would allow U.S. financial institutions—including both government and private entities—to engage with Somaliland.
The Somaliland government described the bill’s introduction and submission as a “historic step.”
“A historic step for Somaliland–U.S. relations and regional stability,” said Abdirahman Dahir Aden, Somaliland’s Minister of Foreign Affairs.
At the end of December last year, Somaliland gained recognition from Israel, making it the first country to recognize Somaliland since its independence from Somalia in 1991.
Recently, Somaliland invited the United States to make use of Berbera Port, including the possibility of a military base in the Gulf of Aden—an effort through which Somaliland seeks formal recognition from the U.S. government.