Microfinance is at an exciting and pivotal point in its development. As microfinance moves from a donor-backed model where microfinance institutes (MFIs) are run by non-profit organizations to being based actively in capital markets, microfinance offers many new opportunities to institutional and individual investors...The study also includes the top 50 microfinance institutions. The top 5 microfinance institutions listed are Grameen Bank, Bangladesh; ASA, Bangladesh; VBSP, Vietnam; BRAC, Bangladesh; and BRI, Indonesia.