28:3Al-Qasas

It is the day on which Allah granted victory to Moses and (his people) Bani Isra'il over the Pharaoh and we observe fast out of gratitude to Him. Upon this the Messenger of Allah (ﷺ) said: We have a closer connection with Moses than you have, and he commanded to observe fast on this day.

When Allah's Messenger (ﷺ) arrived at Medina, he found the Jews observing the fast on the day of 'Ashura' (10th of Muharram). The Prophet (ﷺ) asked them (about it) and they replied, "This is the day when Moses became victorious over Pharaoh." The Prophet (ﷺ) said (to the Muslims), "We are nearer to Moses than they, so fast on this day."

What is the (significance) of this day that you observe fast on it? They said: It is the day of great (significance) when Allah delivered Moses and his people, and drowned the Pharaoh and his people, and Moses observed fast out of gratitude and we also observe it. Upon this the Messenger of Allah (ﷺ) said: We have more right, and we have a closer connection with Moses than you have; so Allah's Messenger (ﷺ) observed fast (on the day of 'Ashura), and gave orders that it should be observed.

When the Prophet (ﷺ) arrived at Medina, the Jews were observing the fast on 'Ashura' (10th of Muharram) and they said, "This is the day when Moses became victorious over Pharaoh," On that, the Prophet (ﷺ) said to his companions, "You (Muslims) have more right to celebrate Moses' victory than they have, so observe the fast on this day."