Members of the Muslim community are calling on the government to hold their hand on a decision to fast track the implementation of the new $100 note.
They are concerned that the change will adversely affect Muslims who don't use the banking system as it is against their religious beliefs to accumulate interest.
"Many Muslims do not use the current banking system due to the Quranic prohibition of charging interest.
Methanol Holdings (Trinidad) Limited (MHTL), a member of the Proman Group of Companies, yesterday announced the completion of a TT $1 billion term facility. The term facility bears interest at a rate of 5.50 per cent per annum for the first 18 months, a statement from the company said.
It added that the term facility has a tenure of three years and is unsecured with interest payable semi-annually.
The TTMA's Ryan Lewis says it's becoming more difficult to do and get business done in Trinidad and Tobago, and government needs to work towards creating a more enabling environment.
According to Ryan Lewis, increased taxes are hurting businesses, and this is combined with the reality that government's business-related processes and procedures are not as efficient as they should be.
The TTMA head is urging government to start doing what is required to create the enabling environment business needs to reignite the T&T economy.