Muslims traditionally recite a special set of prayers and read from the Holy Quran on this night.
It is believed that every wish, request and hope will be fulfilled if asked for on Laylat al-Raghaib.
Raghaib comes from the root "regabe" in Arabic, which means to desire, seek or tend toward.
It is said that Prophet Muhammad (PBUH) used to fast on the first Thursday of Rajab and recite twelve rak'ats of prayers in six sets of 2 rak'ats between Maghrib prayer and Isha prayer.
In every rak'at, after reciting Sura al-Fatiha (Quran, 1), recite 3 times Sura al-Qadr (Quran, 97) and 12 times Sura al-Ikhlas (Quran, 112).
After completing the full prayers, recite 70 times: O Allah, send blessings on Muhammad, the Ummi prophet, and on his descendants.
Then do sajdah (prostration) and recite 70 times subbooh’un quddoos rabbul malaaekate war-rooh (Holy and the most Holy is the Lord of the Angels and the spirit).
Next sit and say 70 times: rabbighfir war-ham watajaawaz a’mma ta’lamo innaka antal a’liyyul a’zam (O Lord! Forgive, have mercy, and be indulgent about that which Thou know well, verily Thou are the Sublime, the Mighty).
Afterwards, do sajdah again and recite 70 times: subbooh’un quddoos rabbul malaaekate war-rooh (Holy and the most Holy is the Lord of the Angels and the spirit)
Now, it is time to ask God whatever you wish.
According to the Hadith, these prayers are means of forgiveness and on the first night in our grave, God will send the reward off this prayer in the best and the most enlightened form.