The short answer? Yes.

O Thou kind Lord! These lovely children are the handiwork of the fingers of Thy might and wondrous signs of Thy greatness. O God! Protect these children, graciously assist them to be educated and enable them to render service to the world of humanity. O God! These children are pearls, cause them to be nurtured within the shell of Thy loving-kindness.

Thou art the Bountiful, the All-Loving. ~Baha’i Prayers

Does it matter what faith you practice? Not really. If your faith helps guide you and helps you understand what to teach your children about right and wrong, about virtues of honesty, justice, love, and compassion, then it will give your child a good moral foundation.

All faiths provide structure and an awareness of something greater than ourselves. The fellowship that community life provides can be very rewarding for children. Holidays become more meaningful when they are within a faith context.

Many families have abandoned their faiths of origin due to a negative experience or disagreement with the doctrine. I encourage you to explore finding a religious community for the sake of your children, one that you feel is loving and safe. The world is a big place and your children need belief, faith, and answers in order for them to truly discover their own purpose.

We can fool ourselves and think that life is about finding happiness, but really we will never find contentment if we do not know the purpose of our own lives. Finding the right faith community will not be easy. Perhaps deciding on whether you’re looking for a community that provides wonderful family support would work for you, or a community where the principles of the faith inspire and uplift you, or one that focuses on acts of service. Not every community will have everything.

Children who are given a religious context, especially with the guidance of intentional parents, will manage life’s problems with more ease and less confusion. If you raise your child to “choose a religion for himself” it, more than likely, will be that your child will choose no religion at all. It is much more difficult to make a choice when you have no initial foundation or context for the concept of God or religion. Growing up “something” allows an individual to know what they are or are not looking for.

…There is a pressing challenge to be faced: Our children need to be nurtured spiritually…They should not be left to drift in a world so laden with moral dangers. In the current state of society, children face a cruel fate. Millions and millions in country after country are dislocated socially. Children find themselves alienated by parents and other adults whether they live in conditions of wealth or poverty. This alienation has its roots in a selfishness that is born of materialism that is at the core of the godlessness seizing the hearts of people everywhere.
~Universal House of Justice