The Asian Development Bank (ADB) is proud to present this book on rural finance in Central Asian countries, the culmination of more than 2 years’ research and analytical work. The book is important for a number of reasons. First, it focuses on rural finance development issues in a set of countries about which little current literature on the subject exists. Second, it represents an attempt to redress a serious imbalance in the attention paid to rural financial market development that has been created by the overwhelming interest in and emphasis on microfinance during the last 2 decades. This emphasis on microfinance seems to have generated a view that microfinance development could provide an answer to the problems of rural financial market development. While the development of microfinance is undoubtedly critical in improving access to finance for the unserved and underserved poor and low-income households and their enterprises, it is inadequate to address issues of rural financial market development. In fact, this recognition has led to the title of this book, “Beyond Microfinance.” Thus the book’s central message: microfinance development is necessary but not sufficient for rural financial market development; rural financial market development remains an equally important facet of overall financial sector development, in Central Asia, as well as throughout developing Asia. Rural Asia presents a paradox: poverty in Asia retains a markedly rural dimension but, at the same time, economic opportunities abound throughout rural areas of Asia. Robust, inclusive rural financial markets can help people take advantage of economic opportunities, build assets, manage risks, and reduce their vulnerabilities to external shocks and, in so doing, help people living in rural areas improve their welfare. Rural financial markets, however, remain largely underdeveloped throughout emerging Asia. While microfinance targets very small businesses and the poor, rural finance encompasses rural microfinance and cuts across all economic strata. Building robust, inclusive rural financial markets is essential to developing healthy rural economies. ADB is committed to promoting rural financial markets that allow rural populations—including the poor— broad access to a wide array of financial products that meet their diverse demand for quality financial services at competitive prices.