[This is] so that the People of the Scripture may know that they are not able [to obtain] anything from the bounty of Allāh1 and that [all] bounty is in the hand2 of Allāh; He gives it to whom He wills. And Allāh is the possessor of great bounty.
Translation: Saheeh International (English)
1 As long as they refuse to believe in the message of Allāh which was conveyed through Muḥammad (ﷺ).
O believers! Verily I have clearly explained My great favour I have prepared for you in the multitude of rewards, so that the people of the previous Book i.e. the Jews and Christians know that they cannot access any of the favour of Allah in terms of being able to give it to whomsoever they wish, and so that they also know that true favour is in Allah’s Hands (may He be glorified); He grants it to whomsoever He wishes. And Allah is the bestower of great favours, which He exclusively gives to whichever of His servants He wishes.