1. The purpose of giving a gift is to engender mahabbat (love and affection) in the heart.
عن أبي هريرة، عن النبي صلى الله عليه وسلم يقول: تهادوا تحابوا (الأدب المفرد، الرقم: 594)
Hazrat Abu Hurairah (radhiyallahu ‘anhu) reports that Rasulullah (sallallahu ‘alaihi wasallam) said, “Exchange gifts among yourselves, as this will engender mutual love among yourselves.”