Hargeisa — The Chairman of the Central Bank of the Republic of Somaliland, Abdinasir Ahmed Hirsi, has welcomed proposed U.S. legislation, H.R.7993, introduced by Congressman John W. Rose and colleagues, aimed at removing barriers preventing Somaliland from accessing the United States financial system.
In a statement posted on X (formerly Twitter) the governor said he had previously sent a formal letter to the United States Department of the Treasury on January 29, 2026, underscoring the strategic importance of recognizing Somaliland as compliant with international financial systems.
Hirsi emphasized that such recognition is not only a matter of economic inclusion but also critical for regional stability and economic development.
The Chairman of the Central Bank of the Republic of Somaliland, Abdinasir Ahmed Hirsi noted that the Central Bank is implementing comprehensive financial sector reforms, including strengthening regulatory frameworks, developing modern financial infrastructure such as a national instant payment system, establishing a credit bureau and deposit insurance scheme, enhancing banking systems, upgrading technology and cybersecurity, and enforcing robust anti-money laundering and counter-terrorism financing measures.
According to the Chairman, Somaliland’s integration into global financial systems would help end its long-standing financial isolation while boosting regional stability and economic growth.
He added that the proposed legislation would advance both U.S. and Somaliland strategic interests by reducing reliance on informal financial channels and improving transparency across Somaliland’s financial sector.
Hirsi reaffirmed that Somaliland is ready to serve as a credible and reliable financial partner committed to upholding international and regional financial standards.
Prepared by:
Horn post staff
