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Women’s World Banking (WWB) Hosts Women in Leadership Course for Women Microfinance Leaders From Around the World

Executives from Leading New York Financial Institutions Share Leadership Stories at Lunch Panel

New York, NY – From July 7th to July 11th, Women’s World Banking (WWB), the world’s largest global network of microfinance institutions (MFIs) and banks dedicated to the economic empowerment of low-income women, will hold its 2008 Women in Leadership course with the goal of increasing women’s representation in microfinance and helping women develop the leadership skills needed to become innovators in their fields. The five-day course, designed and delivered in collaboration with the Wharton Center for Leadership and Change Management of the University of Pennsylvania, is part of WWB’s newly expanded 2008 Women’s Leadership Strategy, which in addition to focusing on the individual development of future female leaders within the WWB network will also help network members to improve organizational leadership capacity to help attract, retain and promote talented women staff at all levels of their respective institutions.

As the microfinance industry continues to grow in size and evolve in scope, cultivating women leaders is more critical than ever before; yet in countries like Bangladesh, Jordan, Tunisia, Zimbabwe and Colombia, the idea of women in leadership roles goes against established societal norms. Moreover, while deliberately targeting female clients has proven to be the most effective way to alleviate poverty—since women reinvest in their communities at greater rates than men, at 89 cents on the dollar versus 60 cents, respectively—women all over the world still face tremendous challenges in gaining access to capital to start their own businesses. Finally, as the microfinance industry becomes increasingly commercialized, there is the risk of losing a focus on women. The Women in Leadership course is one of many WWB programs created to help MFIs, and the microfinance industry as a whole, maintain a focus on supporting and empowering women at all levels – from executive management to low-income women entrepreneurs.

“Women have been instrumental in growing microfinance into the phenomenon that it is today and yet, because of a host of social and cultural reasons—combined with broader trends that are sweeping the industry—the full potential of women’s transformational power in developing economies has yet to be wholly realized,” said Mary Ellen Iskenderian, President and CEO of WWB. “Through initiatives like the Women in Leadership course, WWB is committed to helping our network members increase women’s leadership within their organizations, as well as capture the potential of the women’s market by empowering the end client of low-income women entrepreneurs.”

“Strong leaders and an organizational structure that promotes responsibility at every level are critical to help an organization reach its long-term goals and ensure its future success,” said Michael Useem, Director of the Wharton Center for Leadership and Change Management. “We are pleased to partner with Women’s World Banking in this effort to equip women leaders in microfinance with the tools to successfully achieve their organization’s vision, while simultaneously creating greater opportunities for other women in their communities.”

During the course of the Women in Leadership program, 35 women leaders from MFIs from around the world—including India, Russia, Kenya, Pakistan, Morocco and Mexico— will attend a series of workshops that include individual assessment, negotiation strategies and leadership development sessions. Some goals of the program are to increase participants’ understanding of various models of leadership, gender and culture in order to help define their personal leadership vision; develop strategies and skills that help participants build mutually supportive relationships with other women leaders in the WWB network; and help participants to better understand the mission, vision, and key messages of the WWB network in order to be more effective advocates of women’s participation in microfinance.

As part of the program, WWB will host a luncheon panel where women executives from leading financial institutions like Morgan Stanley and Standard & Poor’s, along with other panelists, will share their leadership stories. Panel participants include:

• Mary Ellen Iskdenderian, President and CEO of Women’s World Banking (WWB)
• Cathy Daicoff, Managing Director, Senior Policy Officer and Director of Policy Training, Ratings Services of Standard & Poor's
• Dr. Humaira Islam, Ph.D., Founder and Executive Director of Shakti Foundation for Disadvantaged Women
• Beth Roberts, Senior Executive in Accenture's Financial Services Practice
• Elizabeth Vale, Managing Director and Portfolio Strategist for $80 billion of Morgan Stanley and Van Kampen Assets

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About Women’s World Banking (WWB)

WWB is a global network of 54 microfinance providers and banks, working in 30 countries to bring financial products and services to low-income entrepreneurs, especially women. The network serves 11 million microentrepreneurs directly, and another 14 million indirectly through its bank partners and other regional networks. WWB is supported by an international team of experts based in New York that delivers expertise in product design and distribution, access to capital markets, and customer care and insight.