“Tallil” is the US Airforce base just south of Baghdad, FYI.
The Future of U.S. Dollars in Iraq
As U.S. Forces conduct stability operations in support of Operation Iraqi Freedom, the removal of US currency and increased use of Electronic Funds Transfers (EFT) and Iraqi Dinar are top priorities. Therefore, US currency will be reduced to an operational minimum at all finance offices in theater.
The U.S. Dollar is being phased out of the Iraqi theater. The increased use of Iraqi Dinar will facilitate a decrease in the dependency of the local economy on the U.S. Dollar, and to encourage Iraqi Financial Institutions to expand and mature into reliable resources for the Iraqi people.
What this means to you:
•Effective 1 June 2009 the Finance office on Tallil will no longer disburse U.S. Dollars.
• All checks cashed will be loaded on to an EagleCash Card (ECC).
•You WILL NOT be able to withdraw US Dollars from your ECC.
•You WILL be able to withdraw Iraqi Dinar from your ECC at the daily exchange rate (rate changes daily).
•You must ensure that you maintain and secure your ECC. Protect it at all times as you would actual currency. Ensure that you have money in your account before you press load on the Kiosk. Change your PIN to something other than your default PIN.
What does this mean for us? Oh, it could mean a LOT! With the USD being pushed out further and further, Iraq has more control over the currency being used. This also gives Iraq a better handle on how much currency is in circulation, since it will begin forcing paper money out from under mattresses everywhere.