Purpose This paper aims to examine the relationship between religiosity level and reasons for saving money in Islamic microfinance institutions [Baitul Maal wat Tamwil (BMT)] in Surakarta and Sukoharjo, Indonesia. Design/methodology/approach A chi-square test was used to identify the relationship between religiosity level and saving decisions in BMTs. In addition, the authors tested religiosity level and the reasons for transactions in both BMTs and conventional banking. Data were collected via a questionnaire. A total of 523 respondents from Surakarta and Sukoharjo, Indonesia, participated in the survey. The respondents are customers of 31 BMTs in Surakarta and Sukoharjo. Findings The authors find a significant relationship between one’s religiosity and the reason for saving money in BMTs. Products that are in accordance with Islamic principles form the highest reason for saving money in BMTs, followed by quality of service, recommendation from friends and location. In addition, purpose of business is the main reason for transactions in both BMTs and conventional banking. However, there is no significant relationship between religiosity level and the decision to transact in both BMTs and conventional banking. Originality/value There is a lack of literature discussing Islamic microfinance institutions, especially in Indonesia. Furthermore, BMT customers have different characteristics compared with those of large banks.

Antenna can be one of the largest components in a wireless device; therefore antenna miniaturization can reduce the overall size of wireless devices. One method used to reduce the element size of an antenna is by using metamaterial structures. This paper discusses a LeftHanded Metamaterial (LHM) structure stacked on a two-element microstrip antennas array for miniaturization and gain enhancement at a frequency of 2.35 GHz. To observe the impact of the LHM structure on the antenna, first this paper discuss the design of a conventional rectangular shape microstrip antenna without a LHM structure, then a design of the LHM structure which shows both negative permittivity and negative permeability. This LHM structure is then implemented on a conventional single element microstrip antenna and on a two-element microstrip antennas array. Results and discussion of implementation of the LHM structure on the conventional microstrip antenna is provided in this paper. The results show that good agreement between simulated and measured results has been achieved. The simulation results show that the antenna works at a frequency of 2.29-2.42 GHz with a bandwidth of 128 MHz (5.4%) and a gain of 8.2 dBi, while the measurements show that the antenna works at a frequency of 2.26-2.41 GHz with a bandwidth of 146 MHz (6.21%) and a gain of 8.97 dBi. In addition, by comparing the substrate dimension for the two element array antennas, with and without the LHM structure, shows a 39% reduction is achieved.

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This paper investigates the relationship between fund reallocation on economic growth and poverty by using 1860 rural banks. Our quarterly data allow us to merge bank-level data and province level-data from 2010-2016. We find that loan-to-deposit ratio as our proxy of intermediation function could boost economic development. Our non-linear regression shows that too much finance reduces regional GDP growth but, in the long term, could help to reduce poverty. Our results provide some important policy implications that rural banks could contribute to economic development in a good way but should be highly supervised in terms of risk and competition.

Digital-based financial innovation has grown rapidly in recent times along with internet and smartphone penetration. The emergence of fintech and the existence of digital-based innovations carried out by incumbents in the financial services sector, in this case banking, are expected to increase financial inclusion. Furthermore, financial inclusion will encourage the growth of the real sector through increasing new entrepreneurs and also increasing the scale of existing micro and small businesses so that it will ultimately drive economic output growth. However, to achieve this goal, joint efforts are needed to increase the digital financial literacy of the community, especially the younger generation so that digital financial presence can be used for productive activities. This article discusses community service programs within the framework of developing digital financial literacy to encourage the growth of new entrepreneurs and increase the scale of existing micro and small businesses, especially by utilizing technology..