المعنى الاصطلاحي

The flag that will be held only by Prophet Muhammad, may Allah's peace and blessings be upon him, on the Day of Judgment, so it can be a sign that distinguishes him; and so that people can follow him including Adam and those after him.

الشرح المختصر

Allah the Almighty has granted His Prophet, may Allah's peace and blessings be upon him, a number of privileges that indicate his noble and high status in the sight of Allah in this world and the Hereafter. One of these privileges is that he will hold the flag of praise, which is a real flag that he alone will hold on the Day of Judgment. It is a real flag because the interpretation of the Prophet's speech follows primarily the literal meaning, not the allegorical.People will follow him under his flag on that Day, including Adam and the rest of his progeny. He was granted that privilege because he is the one who will praise Allah in a way that no one else has ever praised Him. Another interpretation suggests that the flag here is symbolic. In other words, the Prophet, may Allah's peace and blessings be upon him, is the leader of other prophets, messengers, and nations. Following this interpretation, it would mean that the Prophet, may Allah's peace and blessings be upon him, is distinct and singularly praised among the creation; the basis for this interpretation is that the Arabs use "liwaa" to indicate fame. From the apparent signs of this is the greatest intercession, and the fact that the nation of the Prophet, may Allah's peace and blessings be upon him, will enter Paradise first. The correct opinion, however, is that the flag is a real flag that he will carry on the Day of Judgment, since the Prophet's speech follows primarily the literal meaning, not the allegorical.

التعريف اللغوي المختصر

"Liwaa": flag, banner, the flag of the army held during a battle. It is named as such because it is folded due to its large size. It is spread only when needed.