A meeting was held on Tuesday morning the 5th of April 2016 at the Supervision Department of the Central Bank of Libya to discuss the role of expediting opening documentary letters of credit for providing goods. The meeting was attended by the L/C Coverage Committee of the Central Bank of Libya, commodity suppliers, and the Chamber of Commerce and Industry Union. The discussion raised issues that face the commodity suppliers and commercial banks. Also discussed were some of the requirements that should be provided according to Central's Bank of Libya Circular No.2 for year 2016. The meeting focused on the proposal by the Central Bank of Libya to resolve some of the difficulties for the following: Resuming L/Cs under collection of some essential goods for some reputable companies so that the Chamber of Commerce and Industry Union cooperates with the various entities in the area to provide a list of the approved procurement companies through the L/Cs under collection in accordance with the rules and procedures established by the Central Bank of Libya. Traders welcomed the actions and procedures and offered suggestions to the Central Bank of Libya especially on the subject of providing $3.150 Billion for importing basic goods during the next three months especially during the holy month of Ramadan. The traders and suppliers confirmed this amount of money is needed to provide all the basic commodities for the Libyan market during the coming period. Traders and suppliers action was agreed for the coming months, in respect of what was discussed concerning the documentary letters of credits and they requested the Central Bank of Libya to research the speeding up of proceedings at commercial banks.