Giving children Eid money on the two Eids

Dear Brothers & Sisters,
As-Salaamu-Alaikum wa Rahmatullahi wa Barakatuh. (May Allah's Peace, Mercy and Blessings be upon all of you)
One of our brothers/sisters has asked this question:
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?
(There may be some grammatical and spelling errors in the above statement. The forum does not change anything from questions, comments and statements received from our readers for circulation in confidentiality.)
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Answer:

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.

Whatever written of Truth and benefit is only due to Allah's Assistance and Guidance, and whatever of error is of me. Allah Alone Knows Best and He is the Only Source of Strength.

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