This paper aims to assess using a historical approach the challenges facing Somaliland and analyze how the Somalilanders are in the twenty-first century using the globalized financial architecture and system of wealth chains to finance their nascent state and move the debate forward on the calls for self-determination.
Research on this paper included not just a desk review but two research trips to Somaliland and over 20 interviews of politicians, government officials and the private sector and academia.
Today the global wealth chains flowing in and out of Somaliland include some complex ones which include the interactions with other members of the Somali diaspora whether they are in the USA or in Australia where money moves in and out of bank accounts in different countries finally ending up in either Dubai or Djibouti where it is finally transferred through the money transfer agencies into Hargeisa and finally withdrawn by the relative of a diaspora member. The similar wealth chains are those going between traders such as those that already maintain companies in Djibouti because of the war period and continue to live and trade there but have branches in Somaliland. There are simple direct transfers that are easily understood.
Translators had to be used, as some parliamentarians only spoke Kisomali.
No papers have been written on the global banking and finance system with specific reference to Somaliland.
