What is the ruling of Islamic law on saving?

It is permissible to save and keep money as long as the obligatory rights have been fulfilled, such as Zakat and family maintenance. The savings must not be in an interest-based bank. It is permissible in Islamic banks that adhere to Sharia guidelines. A Muslim should not neglect spending on acts of righteousness and should give charity from his wealth so that he may find his reward with Allah the Almighty, for a person's true wealth is what he spends in the way of Allah.