This report benchmarks the regulatory and operating conditions for microfinance in 55 developing countries globally. Commissioned and funded by MIF, CAF and IFC, Microscope 2012 is the Economist Intelligence Unit's fourth annual effort to assignratings to microfi nance markets in these 55countries. This also marks the sixth annual assessment of markets in Latin America and theCaribbean.

Covering the 12 months to June 2012, Microscope 2012 evaluates the sector across two distinct categories: Regulatory Framework and Practices,including legal recognition for microfinanceinstitutions (MFIs), national regulatory and supervisory capacity, policies towards deposits and market distortions; and Supporting Institutional Framework, especially financial reporting standardsand transparency, credit bureaus, pricing, disputeresolution, and policies for offering microfinancethrough new agents and channels.