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WWB President Mary Ellen Iskenderian in the Dallas Morning News

In the opinion section of the Dallas Morning News, WWB President Mary Ellen Iskenderian’s letter to the editor appeared on November 2 in response to the editorial "Microloans Are Making a Dent in Poverty," by Fazlur Rahman. Mr. Rahman’s piece, drawing on his experience growing up in a village in Bangladesh, argued convincingly that microloans enable “poor women [to make] a living as small entrepreneurs.”

Ms. Iskenderian's response, published on the Dallas Morning News Letters Page for November 2, expanded the discussion beyond the topic of microloans to address the full range of financial products and services that microfinance can offer poor entrepreneurs:

Small loans can make a big difference in the lives of poor families. Yet, to deepen a family's financial security, the microfinance industry must move from simply offering credit to offering a range of financial products.

Savings accounts, health and life insurance, housing and education loans, micropensions and other investment vehicles build long-term financial stability.

Thus, while microloans are a critical first step to helping free poor families from the grip of poverty, to remain poverty-free is much more complex.

So, yes, let's continue to begin with life-changing microloans. But let's not stop there. Let's deepen the reach and impact of microfinance by offering services that build and diversify poor people's assets, protect against catastrophic loss and enable them to save for old age.

Poor people are asking us for these basic financial services, not just loans. We know because over the past several years we have surveyed poor borrowers in 15 countries. With a 98 percent repayment rate on microloans, poor families – particularly women, who are the backbone of the microfinance sector – have already demonstrated that they are a sound investment.

Now it's time to increase our investment and, at the same time, increase the long-term financial well-being of poor families.

-Mary Ellen Iskenderian, President, Women's World