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The Du`a the Companions Recited at the Start of Each Month
This report was narrated by At-Tabarani in Al-Mu`jam Al-Awsat (6/221). He said: Muhammad ibn `Ali As-Sa`igh said: Mahdi ibn Ja`far ar-Ramli said: Rishdin ibn Sa`d told us, from Abu `Uqayl Zuhrah ibn Ma`bad, from his grandfather `Abdullah ibn Hisham who said: The companions of the Prophet (blessings and peace of Allah be upon him) used to say this Du`a when a new year or new month began: “O Allah, make this month for us a month of security, faith, safety and Islam, and of attaining the good pleasure of the Most Gracious, and of protection from the Shaytan.”
The Classification of This Du`a
But this chain of narration includes Rishdin ibn Sa`d, who is weak.
Adh-Dhahabi (may Allah have mercy on him) said:
Abu Zar`ah said: He is inauthentic. He died in 188 AH. He was righteous, devoted to worship, a narrator of hadith, but he had a poor memory. (End quote from Al-Kashif, 1/397)
Al-Hafidh Ibn Hajar (may Allah have mercy on him) said:
Rishdin ibn Sa`d is unreliable. Abu Hatim regarded Ibn Luhay`ah as better than him. Ibn Yunus said: He was a righteous and religious person, but he fell into error as some righteous people do, and he mixed up Hadiths. (End quote from Taqrib At-Tahdhib, p. 209. This report is classed as inauthentic, as noted in As-Silsilah Ad-Da`ifah, 8/6).
A Supporting Narration That Strengthens This Du`a
But Hayawah found a corroborating Hadith with a sound chain of narration which supports the report of Rishdin; it was narrated by Al-Baghawi in Mu`jam As-Sahabah (3/543). He said: Ibrahim ibn Hani’ told me, from Asbagh who said: Ibn Wahb told me, from Hayawah, from Abu `Uqayl, from his grandfather `Abdullah ibn Hisham, who said: The companions of the Messenger of Allah (blessings and peace of Allah be upon him) used to learn this Du`a as they used to learn the Quran, when a new month or new year began: “O Allah, make this month for us a month of security, faith, safety and Islam, and of protection from the Shaytan, and of attaining the good pleasure of the Most Gracious.”
It was classed as authentic by Al-Hafidh Ibn Hajar in Al-Isabah (6/407-408), when he (may Allah have mercy on him) said:
Abu Al-Qasim Al-Baghawi narrated it via Asbagh, from Ibn Wahb, with the same chain of narration as the Hadith narrated by Al-Bukhari in Ash-Sharikah – another Hadith that he narrated from the Companions, which says: The companions of the Messenger of Allah (blessings and peace of Allah be upon him) used to learn this Du`a …
This is Mawquf (a narration attributed to a Companion) according to the conditions of As-Sahih. (End quote)
Can Muslims Recite This Du`a at the Start of Each Month?
Even though this report is Mawquf, because it is attributed to the actions of the Companions (may Allah be pleased with them), it strongly indicates that it should be regarded as being attributable to the Prophet (blessings and peace of Allah be upon him), because the fact that they were keen to recite this Du`a, their agreement on these particular phrases, and the fact that they memorized it as they memorized the Quran, indicates that it is of special virtue, and they could only have known that through revelation.
In conclusion, there is a basis for this Du`a, and it is good for the Muslim to say it when a new month begins.
Look at these answers for more insight: (44021, 22438, 37805, 207382, 113064)
And Allah knows best.