(When before it) before the Qur'an (there was the Scripture of Moses) the Torah, (an example) to be emulated (and a mercy) shielding from chastisement for those who believe in it. But they did not believe in it nor took it as an example to be emulated; (and this) Qur'an (is a confirming Scripture) it confirms the Torah in the call to belief in Allah's divine Oneness and in the attributes and description of the Prophet Muhammad (pbuh) (in the Arabic language) in the Arabic usage, (that it may warn those who do wrong) the idolaters (and bring good tidings for the righteous) bring the good tidings of Paradise for the believers.
