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This is an allusion to the way of life of the unbelievers mentioned in verse {179} above: a way of life characterized by extreme attachment to the material things of this world - a materialism based on a lack of belief in anything that transcends the practical problems of life.
The gifts are of all kinds: material gifts, such as wealth, property, strength of limbs, etc., or intangible gifts, such as influence, birth in a given set, intellect, skill, insight, etc., or spiritual gifts of the highest kind. The spending of all these things (apart from what is necessary for ourselves) for those who need them, is charity, and purifies our own character. The withholding of them (apart from our needs) is similarly greed and selfishness, and is strongly condemned.
By an apt metaphor the miser is told that his wealth or the other gifts which he hoarded will cling round his neck and do him no good. He will wish he could get rid of them, but he will not be able to do so. According to the Biblical phrase in another connection they will hang like a millstone round his neck (Matt. xviii. 6). The metaphor here is fuller. He hugged his wealth or his gifts about him. They will become like a heavy collar, the badge of slavery, round his neck. They will be tied tight and twisted, and they will give him pain and anguish instead of pleasure. Cf. also xvii. 13.
Another metaphor is now introduced. Material wealth or property is only called ours during our short life here. So all gifts are ours in trust only; they ultimately revert to Allah, to Whom belongs all that is in the heavens or on earth.