Somaliland Economic Access and Opportunity Act

This bill would require the Secretary of the Treasury to send Congress a report within 180 days on barriers that limit Somaliland's access to the U.S. financial system. The report must examine legal, regulatory, and policy barriers, including Somaliland's international recognition status, anti-money laundering and counter-terrorism financing standards, and remittance flows. It must recommend steps Somaliland and the U.S. government could take, such as using the U.S. vote at the IMF and World Bank and assessing steps to connect Somaliland to the SWIFT payment system. The Secretary may consult directly with Somaliland officials and private financial institutions. The bill also states Congress's view that the U.S. should explore stronger financial cooperation with Somaliland.

Full text and official record on Congress.gov

Sponsors

• John W. Rose Republican sponsor
• 3 cosponsors