Determinant of Saving in Islamic Bank: Case Study in Indonesia
Taufik Nugroho, Faishol Luthfi and Sri Herianingrum
Airlangga University
Airlangga University
Abstract
The development of the amount of saving in Sharia Banking in Indonesia during the 2011- 2017 periods experienced a relatively significant growth. However, in 2014-2015, the growth of the amount of saving has decreased from the previous period. This decline is expected due to the impact of the global financial crisis and high inflation. This research tries to analyse and compare the factors influencing the growth of saving in Sharia Banking by using the VECM Method. The results of this study indicate that in the short term there are two variables that affect the sharia savings significantly; that is the variable of the amount of money in circulation (M2) and the variable of the currency exchange rate of Rupiah to the US dollar (exchange rate). While the BI rate and inflation variables have no effect on sharia savings. And in the long run, all macroeconomic variables are total money supply (M2), Rupiah exchange rate to US dollar (exchange rate), BI rate and inflation signifies sharia savings significantly. In comparison, the sharia saving is most influenced by sharia savings itself with 82% contribution. Then followed by the inflation variable, which contributed 9.5%, and then Bi rate with a contribution of 6.2%, Rupiah exchange rate to US dollar contributed 1.6% and the last variable, the amount of money in circulation (M2) with a contribution of 0.37%.
Keywords: Islamic Bank, Saving, VECM
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