Sequence
Some conditions of the Jews were mentioned in the previous verses. More particular ones appear in the verses cited above, especially the ones identified with Nabbash son of Qays and Fenhas, the chief of the Jewish tribe of Qaiynuqa` who uttered words of affront with reference to Almighty Allah, the description of which follows. Thereupon, the opening verse was revealed. (As in Al-Lubab, from Sayyidna ibn ` Abbs ؓ narrated by Al-Tabarani and Abu Al-Shaykh)
Commentary
The first verse begins with the words: وَقَالَت الیَھُودُ the Jews said). It mentions what was a grave offence and an utterly undignified re-mark for any human being to make. They were wretched enough to (God forbid) say that Allah's hand is tied up.
The background in which this was said was that Allah Almighty had given to the Jews of Madinah extended means and money. But, when the Holy Prophet ﷺ came to Madinah, they heard the call of Islam, yet they remained unmoved because they were more interested in holding on to their communal hegemony and the money they received through offerings based on their self-perpetuating customs. So, they turned against what was the call of truth and took a hostile stand against the Holy Prophet ﷺ himself. Then, as a punishment of this behaviour of theirs, Almighty Allah turned their affluent material circumstances into what was materially straightened for them - and they faced poverty. Thereupon, all frustrated and off-guard, they started uttering words to the effect that (God forbid) the Divine treasure seems to be running short or, perhaps, Allah has chosen to become miserly. It was in answer to them that it was said in this verse that the hands to be tied up will be their own hands who are saying what they are saying and cursed they shall be when punishment visits them in the Hereafter, and in the present world as well, when it comes to them in the form of disgrace. As for the hands of Allah, they are always open and well-extended, and His generosity has been there since ever and shall remain forever. But, He Himself is Independent, free of need, yet the master of all means. Then, along with this, He is Wise too. He gives and gives in His Wisdom. Means are extended for whom He wills in His Wisdom and means are straightened for whom He wills in His Wisdom.
After that, it was said that the people the Prophet of Islam is dealing with are contumacious people as they refuse to benefit from the open and clear words of the Qur'an revealed to him, instead of which, their disbelief in and denial of the truth keeps getting more hardened. So, it is to keep Muslims safe from their evil designs that Allah has caused differences to crop up within their own sects because of which they would neither dare fight an open war nor would any conspiracy by them succeed. The failure to wage an open war has been mentioned in: كُلَّمَا أَوْقَدُوا نَارًا لِّلْحَرْبِ أَطْفَأَهَا اللَّـهُ (Whenever they lit the flames of war, Allah puts it out) while the failure to hatch sinister conspiracies has been pointed out in: يَسْعَوْنَ فِي الْأَرْضِ فَسَادًا (And they run about on the earth spreading mischief).
Full obedience to the Divine Commands brings Blessings in This World Too
In verse 65, the Jews have been admonished that the people of the Torah and Injil have not derived any benefit from the guidance given therein nor from the teachings of the blessed prophets. Once involved in worldly greed, they ignored what was not to be ignored. As a result, they ran into straightened circumstances right here in this world as well. But, if they were to take to the ways of faith and godliness even now, Allah could forgive them their past sins and admit them to Gardens full of bliss.