Iqbal Masih was sold to a Pakistani carpet factory when he was four years old as collateral on a loan his parents had taken out to pay for their eldest son's wedding.

The bank argues that on most measures, for example the extent to which its loan book is backed by collateral, it has cut risk over the past decade.

There are two main doctrines on the legal character of securities counter-purchase: doctrine of collateral loan and doctrine of conditional sale .