What is the interpretation of the verse: "The hand of Allah is above their hands," and does Allah have a literal hand?

The verse "The hand of Allah is above their hands" was revealed in praise of the Companions who pledged allegiance to the Messenger of Allah, peace and blessings be upon him, in the Pledge of Ridwan. The meaning is that whoever pledged allegiance to the Messenger has indeed pledged allegiance to Allah who sent him. The verse affirms the attribute of the Hand for Allah Almighty, and it is one of Allah's attributes that we believe in without likening Him to creation (tashbeeh), nor anthropomorphizing Him (tamtheel), nor interpreting it metaphorically (ta'weel), nor denying it (ta'teel). It befits His majesty, for there is nothing like unto Him.