His words, Exalted is He:

Verily man is ungrateful (kanūdun) to his Lord,

He said:

[The word] kanūd means the ungrateful. He is the one who has broken the Covenant (khālafa al-ʿahd),^{1It is not clear which covenant is meant here, but it could be read in the general sense as God’s Covenant, rather than specifically the Covenant of Alast.} avoids the truth (jānaba al-ṣidq) and is on intimate terms with his [lower] desire, at which point God makes him despair of acquiring any righteousness (birr) and mindfulness of God (taqwā).^{2In other words God removes from him any aspiration to improve his situation.}

And verily to that He is a witness,

Meaning God is witness to his actions, his states and his secrets.

And verily he is avid in [his] love of wealth (khayr).

He said:

The wealth (khayr) which is intended here is of three kinds: love of the lower self (ḥubb al-nafs), love of the world (ḥubb al-dunyā) and the love of [base] desire (ḥubb al-hawā). It is called ‘good’ (khayr) due to the conception of it that is held by its adherents. However [in reality] the good is only in three things: self-sufficiency with regard to, and independence from, people; [recognising one’s] utter neediness (iftiqār) for God, Mighty and Majestic is He; and fulfilling His commandments.

But God knows best.