We have small children, and the custom in our country is to give them on the day of Eid – whether it is Eid al-Fit or Eid al-Adha – what is known as the “Eidiyyah”, which is a small amount of money, so as to make them happy. Is this Eidiyyah an innovation (bid’ah), or is there nothing wrong with it?

Praise
be to Allah.

There is nothing wrong with that; rather
it is a good custom that brings joy to the Muslim, whether he is old or
young, and it is something that is encouraged in Islam. 

And Allah is the source of strength. May
Allah send blessings and peace upon our Prophet Muhammad and his family and
companions. End quote. 

Standing Committee for Academic Research
and Issuing Fatwas 

Shaykh ‘Abd al-‘Azeez ibn ‘Abdullah ibn Baaz, Shaykh ‘Abd
al-‘Azeez Aal ash-Shaykh, Shaykh Saalih al-Fawzaan, Shaykh Bakr Abu Zayd.