Lessons:
1 — One lesson from this verse is the affirmation that these two noble names, ﴿the Most Compassionate, the Most Merciful﴾, belong to Allah, Glorious and Exalted, together with the mercy they entail—mercy as His attribute and mercy as His action.
2 — Another is that Allah’s lordship is founded upon His vast mercy, which reaches His creation. After Allah Most High says, ﴿Lord of the worlds﴾, it is as though someone asks, “What kind of lordship is this? Is it a lordship of taking to task and retribution, or one of mercy and gracious favor?” Allah Most High answers, ﴿the Most Compassionate, the Most Merciful﴾.
﴿King of the Day of Recompense﴾.
The words of Allah Most High, ﴿Owner of the Day of Recompense﴾, are an adjective qualifying the divine name “Allah.” The Day of Recompense is the Day of Resurrection, and dīn here means recompense. That is, He, Glorious and Exalted, is the Owner of that Day on which all creatures will be recompensed; no one besides Him will possess anything on that Day. The word dīn sometimes means recompense, as in this verse, and at other times refers to what one practices, as in the words of Allah Most High, ﴿For you is your religion, and for me is my religion﴾ [The Disbelievers: 6]. It is also said, “As you do, so shall you be recompensed.”
There is also a reading among the seven canonical readings in which ﴿Owner﴾ is recited as ﴿King﴾. A king is more specific than an owner.
Combining the two readings yields a tremendous benefit: His kingship, Glorious and Exalted, is true kingship. Some created beings may be kings without being owners: a person may be called a king in name while possessing no real power of governance. Others may be owners without being kings, as is the case with ordinary people. The Lord, however, Glorious and Exalted, is both Owner and King.