What is the ruling on maintaining a savings account in a commercial bank that yields annual interest, and what should be done with this interest? Is it permissible to open an investment account for my son with an investment company affiliated with a commercial bank, which involves periodic payments and a target amount after 10 years?

It is impermissible to open an account in a usurious bank except in cases of extreme necessity, such as the unavailability of an Islamic bank. If an Islamic bank is available, then dealing with usurious banks becomes forbidden. One must withdraw the money from the usurious bank, repent, and dispose of the usurious gains by distributing them to the poor and needy. The money can be invested through legitimate methods such as Mudarabah (profit-sharing) or in Islamic banks and companies.