Father investing his child’s money

QUESTION:-

My 3 year-old daughter has accumulated some savings. Is it permissible for me to invest her money in gold?

ANSWER:-

From the outset, it should be borne in mind that having children is a great bounty of Allah Ta’ala, and a trust from Him. Hence, one should take care of this bounty to the best of one’s ability. Together with attending to the physical well-being, Deeni education, and spiritual upbringing of one’s children, it is also important to take care of their wealth and belongings. This requires that one invests their funds in the best of avenues.

Now coming to the query, if investing in gold seems to be a profitable venture which will benefit the child, then the father may invest his child’s money in gold, since he has the authority to make decisions and transact in his child wealth.

الولاية في مال الصغير للأب.. (الدر المختار و حاشية ابن عابدين 6/714)

ALLAH TA’ALA ALONE IN HIS INFINITE KNOWLEDGE KNOWS BEST!

ANSWERED BY:-

Maulana Abdul Kader Fazlani

Date:- 24 Dhul Qa’dah 1444 / English Date: 14 June 2023

CHECKED AND APPROVED BY:-

Mufti Mohammed Desai Saheb