The Republic of Somaliland’s push for greater access to the U.S. and international financial systems took a prominent place in a U.S. House Financial Services Committee hearing on Tuesday, as Representative John Rose raised the issue directly with Treasury Secretary Scott Bessent.
Rose highlighted Somaliland’s strategic position along the Gulf of Aden and its potential significance to U.S. security and economic interests, while asking whether stronger financial ties between Washington and Somaliland could contribute to regional stability and help address China’s expanding influence in the Horn of Africa.
The discussion followed Rose’s meeting earlier in the day with Somaliland President H.E. Abdirahman Mohamed Abdillahi Irro, who is currently in Washington.
During the hearing, Rose asked Bessent about barriers preventing Somaliland from gaining greater access to the U.S. financial system and international payment infrastructure, including SWIFT. He also requested the Treasury Secretary’s support for H.R. 7993, the Somaliland Economic Access and Opportunity Act.
The bill, introduced by Rose in March 2026, would require the Treasury Department to submit a comprehensive report to Congress within 180 days examining legal, regulatory, and policy barriers to Somaliland’s access to the U.S. financial system. It would also require recommendations concerning financial transparency, compliance standards, remittances, and the feasibility of access to international financial infrastructure, including SWIFT.
“Somaliland is a valuable partner for the U.S., and has the potential even to become a greater partner,” Rose said during the hearing, pointing to its strategic location near the Gulf of Aden and major international shipping routes.
He further argued that Somaliland’s location could make it relevant to U.S. security and economic interests at a time when China is expanding its influence across the Horn of Africa.
Rose then asked Bessent whether stronger financial ties between Somaliland and the United States could advance American security and economic interests and contribute to countering China’s growing regional influence.
Bessent said he would refer questions concerning recognition to the State Department, while emphasizing the broader relationship between economic engagement and development.
He also indicated that Treasury would review Rose’s legislation and engage with the congressman’s office. According to the Somaliland Mission to the United States, Bessent committed to reviewing H.R. 7993, receiving a briefing from Treasury’s International Affairs team, and continuing discussions with Rose’s staff.
H.R. 7993 remains at the introduced stage and has been referred to the House Committee on Financial Services.
The hearing also gave Somaliland’s Washington mission an opportunity to publicly welcome Rose’s intervention.
The Somaliland Mission thanked the congressman for what the mission described as continued leadership in advancing stronger U.S.–Somaliland economic ties.
The legislation represents a focus on financial access rather than diplomatic recognition itself, requiring Treasury to examine the practical obstacles surrounding Somaliland’s participation in U.S. and international financial systems and identify possible pathways for greater engagement, subject to financial-compliance safeguards.
For Somaliland, the issue has implications extending beyond banking. Greater integration with international financial infrastructure could affect remittances, trade, investment, and the ability of financial institutions to establish correspondent relationships with international banks.
The congressional debate therefore places Somaliland’s financial-system access within a wider U.S. discussion about economic engagement, maritime security, and strategic interests in the Horn of Africa.