The Meaning of Al-Fatihah and its Various Names

1, In the name of Allah, Most Gracious, Most Merciful.
2, Praise be to Allah, the Cherisher and Sustainer of the worlds;
3, Most Gracious, Most Merciful;
4, Master of the Day of Judgement.
5, Thee do we worship, and Thine aid we seek.
6, Show us the straight way,
7, The way of those on whom Thou hast bestowed Thy Grace, those whose (portion) is not wrath, and who go not astray.

This Surah is called Al-Fatihah, that is, the Opener of the Book, the Surah with which prayers are begun. It is also called, Umm Al-Kitab (the Mother of the Book), according to the majority of the scholars. In an authentic Hadith recorded by At-Tirmidhi, who graded it Sahih, Abu Hurayrah said that the Messenger of Allah said,
«قَسَمْتُ الصَّلَاةَ بَيْنِي وَبَيْنَ عَبْدِي نِصْفَيْنِ، فَإِذَا قَالَ الْعَبْدُ:الْحَمْدُدِلله رَبِّ الْعَالَمِينَ، قَالَ اللهُ: حَمِدَنِي عَبْدِي»
(`The prayer (i.e., Al-Fatihah) is divided into two halves between Me and My servants.' When the servant says, `All praise is due to Allah, the Lord of existence,' Allah says, 'My servant has praised Me.')
Al-Fatihah was called the Salah, because reciting it is a condition for the correctness of Salah - the prayer. Al-Fatihah was also called Ash-Shifa' (the Cure).
Virtues of Al-Fatihah
Imam Ahmad bin Hanbal recorded in the Musnad that Abu Sa`id bin Al-Mu`alla said, "I was praying when the Prophet called me, so I did not answer him until I finished the prayer. I then went to him and he said, (What prevented you from coming) I said, 'O Messenger of Allah ! I was praying.' He said, (`Didn't Allah say),
[يأَيُّهَا الَّذِينَ ءَامَنُواْ اسْتَجِيبُواْ لِلَّهِ وَلِلرَّسُولِ إِذَا دَعَاكُمْ لِمَا يُحْيِيكُمْ]
(O you who believe! Answer Allah (by obeying Him) and (His) Messenger when he () calls you to that which gives you life) He then said,
«لَأُعَلِّمَنَّكَ أَعْظَمَ سُورَةٍ فِي الْقُرْآنِ قَبْلَ أَنْ تَخْرُجَ مِنَ الْمَسْجِدِ»
(I will teach you the greatest Surah in the Qur'an before you leave the Masjid.) He held my hand and when he was about to leave the Masjid, I said, `O Messenger of Allah! You said: I will teach you the greatest Surah in the Qur'an.' He said, (Yes.)
[الْحَمْدُ للَّهِ رَبِّ الْعَـلَمِينَ ]
(Al-Hamdu lillahi Rabbil-`Alamin)''
(It is the seven repeated (verses) and the Glorious Qur'an that I was given.)''
There is a similar Hadith on this subject narrated from Anas bin Malik Further, `Abdullah, the son of Imam Ahmad, recorded this Hadith from Abu Hurayrah from Ubayy bin Ka`b, and he mentioned a longer but similar wording for the above Hadith. In addition, At-Tirmidhi and An-Nasa'i recorded this Hadith from Abu Hurayrah from Ubayy bin Ka`b who said that the Messenger of Allah said,
«مَا أَنْزَل اللهُ فِي التَّورَاةِ وَلَا فِي الْإِنْجِيلِ مِثْلَ أُمِّ الْقُرْآنِ وَهِيَ السَّبْعُ الْمَثَانِي وَهِيَ مَقْسُومَةٌ بَيْنِي وَبَيْنَ عَبْدِي نِصْفَيْنِ»
(Allah has never revealed in the Tawrah or the Injil anything similar to Umm Al-Qur'an.
It is the seven repeated verses and it is divided into two halves between Allah and His servant.)
Al-Fatihah and the Prayer
Abu Hurayrah was asked, "[When] we stand behind the Imam'' He said, "Read it to yourself, for I heard the Messenger of Allah say,
« قَالَ اللَّهُ عَزَّ وَجَلَّ: قَسَمْتُ الصّلَاةَ بَيْنِي وَبَيْنَ عَبْدِي نِصْفَيْنِ وَلِعَبْدِي مَا سَأَلَ فَإِذَا قَالَ:
[الْحَمْدُ للَّهِ رَبِّ الْعَـلَمِينَ ]، قَالَ اللهُ: حَمِدَنِي عَبْدِي وَإِذَا قَالَ:
[الرَّحْمَـنِ الرَّحِيمِ ]، قَالَ اللهُ: أَثْنى عَلَيَّ عَبْدِي، فَإذَا قَالَ:
[مَـلِكِ يَوْمِ الدِّينِ ]، قَالَ اللهُ: مَجَّدَنِي عَبْدِي وَقَالَ مَرَّةً: فَوَّضَ إِلَيَّ عَبْدِي فَإِذَا قَالَ:
[إِيَّاكَ نَعْبُدُ وَإِيَّاكَ نَسْتَعِينُ ]، قَالَ: هذَا بَيْنِي وَبَيْنَ عَبْدِي وَلِعَبْدِي مَا سَأَلَ، فَإِذَا قَالَ:
[اهْدِنَا الصِّرَاطَ الْمُسْتَقِيمَ - صِرَاطَ الَّذِينَ أَنْعَمْتَ عَلَيْهِمْ غَيْرِ الْمَغْضُوبِ عَلَيْهِمْ وَلاَ الضَّآلِّينَ ]، قَالَ اللهُ: هذَا لِعَبْدِي وَلِعَبْدِي مَا سَأَلَ»
(Allah, the Exalted, said, `I have divided the prayer (Al-Fatihah) into two halves between Myself and My servant, and My servant shall have what he asks for.' If he says,
[الْحَمْدُ للَّهِ رَبِّ الْعَـلَمِينَ ]
(All praise and thanks be to Allah, the Lord of existence.)
Allah says, `My servant has praised Me.' When the servant says,
[الرَّحْمَـنِ الرَّحِيمِ ]
(The Most Gracious, the Most Merciful.)
Allah says, `My servant has glorified Me.' When he says,
[مَـلِكِ يَوْمِ الدِّينِ ]
(The Owner of the Day of Recompense.) Allah says, `My servant has glorified Me,' or `My servant has related all matters to Me.' When he says,
[إِيَّاكَ نَعْبُدُ وَإِيَّاكَ نَسْتَعِينُ ]
(You (alone) we worship, and You (alone) we ask for help.) Allah says, `This is between Me and My servant, and My servant shall acquire what he sought.' When he says,
[اهْدِنَا الصِّرَاطَ الْمُسْتَقِيمَ - صِرَاطَ الَّذِينَ أَنْعَمْتَ عَلَيْهِمْ غَيْرِ الْمَغْضُوبِ عَلَيْهِمْ وَلاَ الضَّآلِّينَ ]
(Guide us to the straight path. The way of those on whom You have granted Your grace, not (the way) of those who earned Your anger, nor of those who went astray), Allah says, `This is for My servant, and My servant shall acquire what he asked for.').''
These are the words of An-Nasa'i, while both Muslim and An-Nasa'i collected the following wording, "A half of it is for Me and a half for My servant, and My servant shall acquire what he asked for.''