Somaliland Economic Access and Opportunity Act
Sponsored By: Representative Rose
Introduced
Summary
Improve Somaliland's access to the U.S. financial system. This bill would direct the Treasury Secretary to study legal, regulatory, and institutional barriers and recommend steps to expand transparent, compliant financial engagement between Somaliland and U.S. markets.
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- Families and the Somaliland diaspora: Would aim to ease barriers that complicate remittances and trade, which could make sending money and doing cross-border business simpler.
- Somaliland governing authorities: Would produce specific recommendations for steps Somaliland can take to meet IMF, World Bank, and Financial Action Task Force anti-money laundering and counter‑terrorism financing standards.
- U.S. policymakers and international finance bodies: Would ask Treasury to evaluate using the U.S. voice and vote at the IMF, World Bank, and FATF and to assess whether international resources and SWIFT inclusion for Somaliland should be reconsidered.
- Banks, compliance teams, and law enforcement: Would require analysis of tools and safeguards to reduce illicit finance risks, including information sharing, due diligence, and monitoring technologies.
- Timeline and engagement: Would require a report within 180 days and authorizes direct engagement with named Somaliland ministries, the Office of the Economic Advisor to the President, the Central Bank of Somaliland, and private-sector stakeholders.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & CoSponsors
Sponsor
Rose
TN • R
Cosponsors
Rep. Ogles, Andrew [R-TN-5]
TN • R
Sponsored 3/19/2026
Rep. Harrigan, Pat [R-NC-10]
NC • R
Sponsored 3/19/2026
McDowell
NC • R
Sponsored 3/26/2026
Roll Call Votes
No roll call votes available for this bill.
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