A Synergy Development Model for The Islamic EconomyEcosystem-Based on Productive Debtors: EvidenceFrom Financing ‎The Customers of The BankSumut Sharia

  • Authors

    • Ari Asriadi Universitas Islam Negeri Sumatera Utara, Sumatera Utara, Indonesia
    • Andri Soemitra Universitas Islam Negeri Sumatera Utara, Sumatera Utara, Indonesia
    • Tuti Anggraini Universitas Islam Negeri Sumatera Utara, Sumatera Utara, Indonesia
    • Saparuddin Siregar Universitas Islam Negeri Sumatera Utara, Sumatera Utara, Indonesia
    • Muhammad Yafiz Universitas Islam Negeri Sumatera Utara, Sumatera Utara, Indonesia
    • Muhammad Rizal Universitas Negeri Medan, Sumatera Utara, Indonesia
    https://doi.org/10.14419/5nvdjy97

    Received date: December 30, 2025

    Accepted date: January 26, 2026

    Published date: February 8, 2026

  • Islamic Economics; Productive Financing; Productivity; Ecosystem Synergy; Maqāṣid Al-Sharīʿah.

  • Abstract

    Islamic financial institutions in Indonesia continue to face challenges in optimizing productive financing to enhance ‎business productivity while simultaneously fostering a synergistic and sustainable Islamic economic ecosystem. A key ‎concern is that, although productive financing improves debtor performance, its impact remains limited in creating interconnections among ecosystem actors. This study investigates the effect of productive financing on debtor productivity and ecosystem synergy, examining the mediating role of productivity using evidence from financing customers of Bank Sumut Sharia. A Quantitative methods approach with a sequential explanatory design is employed. Quantitative ‎data were collected through a survey and analyzed using Partial Least Squares–Structural Equation Modeling (SEM-‎PLS), while qualitative data were obtained through in-depth interviews with experts, bank management, and productive ‎debtors to enrich and validate the quantitative findings. The results indicate that productive financing has a positive and ‎significant effect on debtor productivity (β = 0.042; p = 0.003), aligning with Supply Chain Financing Ecosystem Theory ‎and the maqāṣid al-sharīʿah, particularly ḥifẓ al-māl. However, productive financing does not significantly influence ‎ecosystem synergy (β = 0.005; p = 0.605). Likewise, productivity does not significantly affect ecosystem synergy (β = ‎‎−0.007; p = 0.329) and fails to mediate the relationship between productive financing and ecosystem synergy. This ‎study contributes by proposing a synergy development model for the Islamic economic ecosystem based on productive ‎debtors, integrating financing, business mentoring, cluster development, and multi-actor collaboration to support a more ‎inclusive and sustainable Islamic economy‎.

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  • How to Cite

    Asriadi, A. ., Soemitra, A., Anggraini, T., Siregar, S., & Yafiz, M. (2026). A Synergy Development Model for The Islamic EconomyEcosystem-Based on Productive Debtors: EvidenceFrom Financing ‎The Customers of The BankSumut Sharia (M. . Rizal , Trans.). International Journal of Accounting and Economics Studies, 13(2), 37-46. https://doi.org/10.14419/5nvdjy97