What is the meaning of our saying: “Laybbaka Allahuma Labbayk” (”Here I am, O Allah, here I am”)?

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It is an answer after an answer to Allah’s order- the Lord of the worlds. The first
answer is a response to Prophet Ibrahim’s call (may Allah be pleased with him), and the
second answer is a response to the call of the Messenger of Allah (ﷺ) to the people
to perform the pillar of Hajj.