Somaliland Economic Access and Opportunity Act

(a) Findings. Congress finds the following:

(1) Somaliland occupies a strategically significant position in the Horn of Africa, adjacent to critical maritime routes in the Gulf of Aden.

(2) Financial engagement with Somaliland has the potential to advance U.S. interests in regional security, and economic stability.

(3) Somaliland faces legal, regulatory, and institutional barriers in accessing the United States and international financial systems, which may adversely impact remittances, trade, anti-money laundering efforts, and counter-terrorism financing.

(4) The United States has a national security and humanitarian interest in ensuring that Somaliland’s financial sector operates with transparency, integrity, and compliance with international standards.

(b) Sense of Congress. It is the sense of Congress that—

(1) the United States should explore opportunities to promote stronger financial cooperation and transparency with Somaliland to encourage stability and expand economic engagement; and

(2) enhanced financial access, conducted under appropriate compliance safeguards, would serve to strengthen U.S. policy objectives in the region.