Here, we recite the basmalah before reciting al-Fātiḥah, so its implied meaning is: “In the name of Allah, I recite.”
We said that what it is connected to is a verb, because verbs are the basic form for expressing action.
We said that it is omitted, out of seeking blessing by limiting the expression to the Name of Allah, may He be exalted, and because of frequent usage.
And we said that it comes later, because placing it later in the implied wording has two benefits:
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Seeking blessing by placing the Name of Allah, may He be exalted, first.
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Restriction, because placing the governed element before its governing element conveys restriction.
We have taken the implied verb to be appropriate to the context because this better indicates the intention of the one saying the basmalah. Thus, if you say, “In the name of Allah,” while intending to recite, its implied meaning is: “In the name of Allah, I recite.” This is more specific than saying that its implied meaning is, “In the name of Allah, I begin,” because recitation is more specific than beginning in an unrestricted sense.
As for Allah, it is the proper Name of the Lord, may He be exalted. Its original form is ilāh, but the hamzah was omitted for ease of pronunciation due to frequent usage. Ilāh means maʾlūh—that which is worshipped with love and reverence.
As for al-Raḥmān, it is one of Allah’s Names. Grammatically, it is an adjective, and it means the One whose vast mercy reaches all created beings.
And al-Raḥīm is likewise on the pattern faʿīl, derived from mercy. However, it takes into account the act rather than the attribute, for mercy is an attribute, while the act is the conveying of mercy to the one shown mercy.