Is it permissible to save the children's insurance granted by the National Insurance Institute in Israeli banks?

It is not permissible for a Muslim to keep his money in interest-based banks due to the cooperation in the sin of usury that this entails, unless he fears his money will be stolen or lost and finds no other means to preserve it except in such banks. In that case, it is permissible due to necessity, based on the Almighty's saying: "And He has explained in detail to you what He has forbidden you, except what you are compelled to."