MANAMA: The future of thousands of Bahrain's orphans and widows were made more secure yesterday.

The Royal Charity Organisation (RCO) was allocated 46.5 million shares in Seef Property Company.

His Majesty King Hamad earmarked the stakes in the state-owned firm to boost orphans' resources and ensure them a decent future.

The shares, with a market value of BD6m, will help the RCO diversify resources and generate substantial reserves for orphans and widows.

RCO board of trustees' chairman Shaikh Nasser bin Hamad Al Khalifa hailed the Royal philanthropic gesture and his fatherly concern.

The RCO has already sought to ensure resources, contributing to the family bank and a string of other economic projects.

The Royal initiative will help transform the RCO from a mere aid-distribution institution into an asset contributing to sustained development and promoting decent living standards for all.

RCO secretary general Dr Mustafa Al Sayed thanked to His Majesty. "The RCO, with these shares and other schemes, will be able to engage in investment projects, including the appropriation of real estate properties," he said.