Short answer
No. The dilemma says the Qur'an confirms the Bible, so either the Bible is reliable and Islam is false, or the Qur'an was wrong. It rests on two misreadings. The Qur'an confirms the Torah God (﷾) gave Moses and the Injil (the Gospel Jesus preached). It never says these are the Bible as later compiled, whose Gospels others wrote decades after Jesus. The same Qur'an says some people wrote scripture with their own hands and changed words from their places. It says the Torah was left in its rabbis' keeping, while Allah (﷾) Himself guards the Qur'an. So "confirming" means agreeing with the truth that remained, not approving every line. The Qur'an calls itself the guardian over the earlier books. It calls Jews and Christians to follow the Prophet Muhammad (ﷺ).
Full explanation
What the Qur'an confirms: revelations given to prophets
The Qur'an speaks of the Torah that God (﷾) revealed to Moses and the Injil that He gave to Jesus. It calls both guidance and light. These are revelations sent to prophets, not books written about them later. Mark itself says Jesus came preaching the gospel. That was a message he already had, before any New Testament Gospel was written.
“It was We who revealed the law (to Moses): therein was guidance and light. By its standard have been judged the Jews, by the prophets who bowed (as in Islam) to Allah's will, by the rabbis and the doctors of law: for to them was entrusted the protection of Allah's book, and they were witnesses thereto: therefore fear not men, but fear me, and sell not my signs for a miserable price. If any do fail to judge by (the light of) what Allah hath revealed, they are (no better than) Unbelievers.”
“And in their footsteps We sent Jesus the son of Mary, confirming the Law that had come before him: We sent him the Gospel: therein was guidance and light, and confirmation of the Law that had come before him: a guidance and an admonition to those who fear Allah.”
“It is He Who sent down to thee (step by step), in truth, the Book, confirming what went before it; and He sent down the Law (of Moses) and the Gospel (of Jesus) before this, as a guide to mankind, and He sent down the criterion (of judgment between right and wrong).”
“Now after that John was put in prison, Jesus came into Galilee, preaching the gospel of the kingdom of God, And saying, The time is fulfilled, and the kingdom of God is at hand: repent ye, and believe the gospel.”
The New Testament Gospels came later
Historians date Mark to about 65-70 CE and John to about 90-95. That is decades after Jesus. The four Gospels were written in Greek, while Jesus spoke Aramaic. None of the four names its author in its text. The names were attached later. So the Injil the Qur'an names is not the same thing as the four Gospels in the Bible.
A standard textbook. It dates Paul's earliest letters to around 50 CE, Mark to about 65-70, Matthew and Luke to about 80-85, and John to about 90-95, and notes that Jesus spoke Aramaic while the Gospels were written in Greek by authors who do not name themselves. It also says Paul did not know Jesus during Jesus' lifetime and came to faith only after the crucifixion.
The evangelical NIV Study Bible's introductions hold to the traditional authors, but grant that the books themselves do not name them. On Mark: there is no direct evidence inside the book of who wrote it; the name rests on the testimony of the early church. On Luke: the name of the writer does not appear in the book (it adds that other evidence points to Luke). On John: the apostle is not named anywhere in the Gospel, and the notes argue for him from that silence.
The Qur'an says the earlier texts were tampered with
The Qur'an says some wrote the Book with their own hands and called it God's (﷾). It says some twisted the Book with their tongues, and changed words from their right places. It says Christians forgot a good part of their message. And it says the Prophet (ﷺ) revealed much they used to hide. A Book that says this cannot be said to affirm that those texts were kept intact.
“Then woe to those who write the Book with their own hands, and then say:"This is from Allah," to traffic with it for miserable price!- Woe to them for what their hands do write, and for the gain they make thereby.”
“There is among them a section who distort the Book with their tongues: (As they read) you would think it is a part of the Book, but it is no part of the Book; and they say, "That is from Allah," but it is not from Allah: It is they who tell a lie against Allah, and (well) they know it!”
“But because of their breach of their covenant, We cursed them, and made their hearts grow hard; they change the words from their (right) places and forget a good part of the message that was sent them, nor wilt thou cease to find them- barring a few - ever bent on (new) deceits: but forgive them, and overlook (their misdeeds): for Allah loveth those who are kind.”
“From those, too, who call themselves Christians, We did take a covenant, but they forgot a good part of the message that was sent them: so we estranged them, with enmity and hatred between the one and the other, to the day of judgment. And soon will Allah show them what it is they have done.”
“O people of the Book! There hath come to you our Messenger, revealing to you much that ye used to hide in the Book, and passing over much (that is now unnecessary): There hath come to you from Allah a (new) light and a perspicuous Book, -”
Entrusted to people, or guarded by Allah (﷾)
Of the Torah, the Qur'an says its protection was entrusted to the rabbis (Jewish teachers) and the doctors of law. Of the Qur'an, Allah (﷾) says He Himself will guard it. So the earlier books were left in human hands, and the Qur'an records what those hands did. Only the last Book carries God's (﷾) own promise of protection.
“It was We who revealed the law (to Moses): therein was guidance and light. By its standard have been judged the Jews, by the prophets who bowed (as in Islam) to Allah's will, by the rabbis and the doctors of law: for to them was entrusted the protection of Allah's book, and they were witnesses thereto: therefore fear not men, but fear me, and sell not my signs for a miserable price. If any do fail to judge by (the light of) what Allah hath revealed, they are (no better than) Unbelievers.”
“We have, without doubt, sent down the Message; and We will assuredly guard it (from corruption).”
The Qur'an is the judge over the earlier books
The Qur'an says it was sent confirming the scripture before it and guarding it. The Arabic word is muhaymin (a guardian and watcher over something). Ibn Kathir, a 14th-century scholar who explained the Qur'an, reports early readings of it as trustee, witness and judge over the earlier books. Whatever in them agrees with the Qur'an is true, and whatever differs from it is false. The verse adds that God (﷾) gave each community its own law and way. In the same passage the Prophet (ﷺ) is told twice to judge by what Allah (﷾) sent down to him. He is told not to follow the desires of others, nor be turned from any of it.
“To thee We sent the Scripture in truth, confirming the scripture that came before it, and guarding it in safety: so judge between them by what Allah hath revealed, and follow not their vain desires, diverging from the Truth that hath come to thee. To each among you have we prescribed a law and an open way. If Allah had so willed, He would have made you a single people, but (His plan is) to test you in what He hath given you: so strive as in a race in all virtues. The goal of you all is to Allah; it is He that will show you the truth of the matters in which ye dispute;”
Explains muhaymin ("guarding it in safety") from the early authorities. In one report from Ibn Abbas, the Qur'an is trustworthy over every book before it. In another it is a witness over them, and in a third a judge over them. He reports Ibn Jurayj: whatever in the earlier books agrees with the Qur'an is true, and whatever differs from it is false. Ibn Kathir says the word includes all these meanings. He adds that God made the Qur'an, the last of the books, trustee, witness and judge over them all. God undertook to guard it Himself (15:9).
“And this (He commands): Judge thou between them by what Allah hath revealed, and follow not their vain desires, but beware of them lest they beguile thee from any of that (teaching) which Allah hath sent down to thee. And if they turn away, be assured that for some of their crime it is Allah's purpose to punish them. And truly most men are rebellious.”
Qur'an 5:43 and 5:47 in their setting
These verses come in a passage about a real event. Some Jews brought an adultery case to the Prophet (ﷺ). They hoped for a lighter ruling than the stoning in their own Torah. When the Torah was brought, a reader covered the verse of stoning with his hand. A companion of the Prophet (ﷺ), meaning someone who knew him, says 5:41, 5:44, 5:45 and 5:47 came down about this. So the verses rebuke people who left a ruling they still had. They do not say every word in their copies was intact. The same surah (chapter) says they changed words from their places.
“O Messenger! let not those grieve thee, who race each other into unbelief: (whether it be) among those who say "We believe" with their lips but whose hearts have no faith; or it be among the Jews,- men who will listen to any lie,- will listen even to others who have never so much as come to thee. They change the words from their (right) times and places: they say, "If ye are given this, take it, but if not, beware!" If any one's trial is intended by Allah, thou hast no authority in the least for him against Allah. For such - it is not Allah's will to purify their hearts. For them there is disgrace in this world, and in the Hereafter a heavy punishment.”
“But why do they come to thee for decision, when they have (their own) law before them?- therein is the (plain) command of Allah; yet even after that, they would turn away. For they are not (really) People of Faith.”
“Let the people of the Gospel judge by what Allah hath revealed therein. If any do fail to judge by (the light of) what Allah hath revealed, they are (no better than) those who rebel.”
Abdullah ibn Umar reports that Jews brought a case of adultery to the Prophet (ﷺ). He asked what the Torah said about stoning. They said they exposed and flogged the guilty. Abdullah ibn Salam said they were lying. The Torah was brought, and the reader covered the verse of stoning with his hand. Told to lift it, he did, and the verse was there. The Prophet (ﷺ) then ordered both to be stoned.
Al-Bara' ibn Azib reports that a Jewish scholar, asked under oath, admitted that the Torah prescribed stoning for adultery. They had been sparing the rich and punishing the poor, so they agreed on blackening the face and flogging instead. The Prophet (ﷺ) said he was the first to revive Allah's command after they had let it die. Al-Bara' says Qur'an 5:41 came down about this: they had said, go to Muhammad and accept flogging, but avoid a verdict of stoning. Then 5:44, 5:45 and 5:47 were sent down, all of them, he says, about the unbelievers.
“But because of their breach of their covenant, We cursed them, and made their hearts grow hard; they change the words from their (right) places and forget a good part of the message that was sent them, nor wilt thou cease to find them- barring a few - ever bent on (new) deceits: but forgive them, and overlook (their misdeeds): for Allah loveth those who are kind.”
Why the dilemma fails
The dilemma needs two things. It needs the Torah and the Injil to mean the Bible we have today. And it needs "confirming" to mean approving every word of it. The Qur'an's own words reject both. All of these verses come from the one Author, so a verse that sounds general is read with the rest.
“And in their footsteps We sent Jesus the son of Mary, confirming the Law that had come before him: We sent him the Gospel: therein was guidance and light, and confirmation of the Law that had come before him: a guidance and an admonition to those who fear Allah.”
“But because of their breach of their covenant, We cursed them, and made their hearts grow hard; they change the words from their (right) places and forget a good part of the message that was sent them, nor wilt thou cease to find them- barring a few - ever bent on (new) deceits: but forgive them, and overlook (their misdeeds): for Allah loveth those who are kind.”
“To thee We sent the Scripture in truth, confirming the scripture that came before it, and guarding it in safety: so judge between them by what Allah hath revealed, and follow not their vain desires, diverging from the Truth that hath come to thee. To each among you have we prescribed a law and an open way. If Allah had so willed, He would have made you a single people, but (His plan is) to test you in what He hath given you: so strive as in a race in all virtues. The goal of you all is to Allah; it is He that will show you the truth of the matters in which ye dispute;”
“We have, without doubt, sent down the Message; and We will assuredly guard it (from corruption).”
Jews and Christians are called to follow the Prophet (ﷺ)
The Qur'an tells the People of the Book (Jews and Christians) to believe in what has now been revealed. It says every messenger is sent to be obeyed. It tells the Prophet (ﷺ) to ask them whether they too submit. And it calls on all people to believe in him and follow him. He swore that a Jew or Christian who hears of him, and dies without believing his message, will be among the people of the Fire. He sent Mu'adh, one of his companions, to the People of the Book in Yemen. Mu'adh was to call them first to the oneness of Allah (﷾).
“O ye People of the Book! believe in what We have (now) revealed, confirming what was (already) with you, before We change the face and fame of some (of you) beyond all recognition, and turn them hindwards, or curse them as We cursed the Sabbath-breakers, for the decision of Allah Must be carried out.”
“We sent not a messenger, but to be obeyed, in accordance with the will of Allah. If they had only, when they were unjust to themselves, come unto thee and asked Allah's forgiveness, and the Messenger had asked forgiveness for them, they would have found Allah indeed Oft-returning, Most Merciful.”
“So if they dispute with thee, say: "I have submitted My whole self to Allah and so have those who follow me." And say to the People of the Book and to those who are unlearned: "Do ye (also) submit yourselves?" If they do, they are in right guidance, but if they turn back, Thy duty is to convey the Message; and in Allah's sight are (all) His servants.”
“"Those who follow the messenger, the unlettered Prophet, whom they find mentioned in their own (scriptures),- in the law and the Gospel;- for he commands them what is just and forbids them what is evil; he allows them as lawful what is good (and pure) and prohibits them from what is bad (and impure); He releases them from their heavy burdens and from the yokes that are upon them. So it is those who believe in him, honour him, help him, and follow the light which is sent down with him,- it is they who will prosper."”
“Say: "O men! I am sent unto you all, as the Messenger of Allah, to Whom belongeth the dominion of the heavens and the earth: there is no god but He: it is He That giveth both life and death. So believe in Allah and His Messenger, the Unlettered Prophet, who believeth in Allah and His words: follow him that (so) ye may be guided."”
Abu Huraira reports that the Prophet (ﷺ) swore that any Jew or Christian of his community who hears of him, then dies without believing in the message he was sent with, will be among the people of the Fire.
Ibn Abbas reports that when the Prophet (ﷺ) sent Mu'adh to Yemen, he told him he was going to a people of the Scripture. The first thing to call them to was the oneness of Allah. Once they knew it, he was to teach them the five daily prayers, and then the zakat, taken from their rich and given to their poor.
Verse by verse
Qur'an 5:47 — Surat al-Ma'ida (The Table), verse 47
“Let the people of the Gospel judge by what Allah hath revealed therein. If any do fail to judge by (the light of) what Allah hath revealed, they are (no better than) those who rebel.”
Cited for
If the people of the Injil are told to judge by it, their copies must have been reliable.
The response
The verse says to judge by what Allah (﷾) revealed in it. Al-Bara' ibn Azib, a companion, says 5:41, 5:44, 5:45 and 5:47 came down about Jews who hid the stoning ruling in their Torah. The next verse makes the Qur'an the judge. There the Prophet (ﷺ) is told to rule by what was sent to him.
Where it lands — The verse rebukes people who left the revelation they still had; it does not say their copies were intact.
Qur'an 5:68 — Surat al-Ma'ida (The Table), verse 68
“Say: "O People of the Book! ye have no ground to stand upon unless ye stand fast by the Law, the Gospel, and all the revelation that has come to you from your Lord." It is the revelation that cometh to thee from thy Lord, that increaseth in most of them their obstinate rebellion and blasphemy. But sorrow thou not over (these) people without Faith.”
Cited for
The Qur'an tells the People of the Book to stand fast by the Law and the Injil, so those books were still valid.
The response
The verse adds all the revelation that has come to them from their Lord. Al-Tabari says this is the Qur'an. Ibn Kathir explains that the Torah and the Injil, truly followed, command belief in the Prophet (ﷺ).
Where it lands — Standing by those books, in the Qur'an's sense, leads to the Qur'an.
Qur'an 4:47 — Surat al-Nisa (The Women), verse 47
“O ye People of the Book! believe in what We have (now) revealed, confirming what was (already) with you, before We change the face and fame of some (of you) beyond all recognition, and turn them hindwards, or curse them as We cursed the Sabbath-breakers, for the decision of Allah Must be carried out.”
Cited for
The Qur'an came "confirming what was with you", so their scripture was intact in the seventh century.
The response
The same verse calls them to believe in the Qur'an. It confirms the truth that remained with them. The Prophet (ﷺ) revealed much they had hidden. The Qur'an guards their scripture. It does not copy it.
Where it lands — Confirming the truth that remained is not certifying every word.
Qur'an 10:94 — Surat Yunus (Jonas), verse 94
“If thou wert in doubt as to what We have revealed unto thee, then ask those who have been reading the Book from before thee: the Truth hath indeed come to thee from thy Lord: so be in no wise of those in doubt.”
Cited for
The Prophet (ﷺ) was told to ask the People of the Book, so their Book was an authority.
The response
The verse is a condition spoken to the Prophet (ﷺ), and it ends by telling him the truth has come to him. Ibn Kathir says the condition never meant he doubted.
Where it lands — A witness is called to confirm a point, not to rule on the case.
Qur'an 6:115 — Surat al-An'am (The Cattle), verse 115
“The word of thy Lord doth find its fulfilment in truth and in justice: None can change His words: for He is the one who heareth and knoweth all.”
Cited for
None can change God's words, so the Bible cannot have been changed.
The response
Ibn Kathir explains it as meaning no one can turn back God's (﷾) judgement. Qur'an 18:27, which says the same, speaks of the Book revealed to the Prophet (ﷺ). The same Qur'an says men wrote the Book with their own hands, and promises to guard only the Qur'an.
Where it lands — The verse is about God's (﷾) decree, not a promise that no copy of scripture would be altered.
Qur'an 2:85 — Surat al-Baqara (The Cow), verse 85
“After this it is ye, the same people, who slay among yourselves, and banish a party of you from their homes; assist (Their enemies) against them, in guilt and rancour; and if they come to you as captives, ye ransom them, though it was not lawful for you to banish them. Then is it only a part of the Book that ye believe in, and do ye reject the rest? but what is the reward for those among you who behave like this but disgrace in this life?- and on the Day of Judgment they shall be consigned to the most grievous penalty. For Allah is not unmindful of what ye do.”
Cited for
Muslims who accept only parts of the Bible believe in part of the Book, which the Qur'an condemns.
The response
The verse speaks to people who ransomed captives by their law while killing and expelling their own against it. Muslims believe in all that God (﷾) revealed to every prophet.
Where it lands — The verse condemns obeying part of God's (﷾) law and breaking the rest; it is not about Muslims and the Bible.
Perspectives
The "Islamic dilemma"
Some Christian apologists argue that the Qur'an affirms the inspiration, preservation and authority of the Torah and the Injil. They treat these as the Bible we have. If those books were preserved, Islam is false, because the Bible contradicts the Qur'an. If they were corrupted, the Qur'an was wrong to affirm them.
Qur'an 5:47 tells the people of the Injil to judge by what Allah revealed in it. So their copies must have been intact.
Rebuttal
The verse points to what Allah (﷾) revealed, not to every word men added. A companion of the Prophet (ﷺ) says it came down with 5:41, 5:44 and 5:45 about people who hid the stoning ruling. The next verse makes the Qur'an the guardian over their scripture.
Qur'an 5:68 tells the People of the Book to "stand fast by the Law, the Gospel". So, they say, those books were still valid.
Rebuttal
The verse names a third thing: all the revelation that has come to them from their Lord. Al-Tabari, a tenth-century scholar who explained the Qur'an, says this is the Qur'an. Ibn Kathir explains that the Torah and the Injil, truly followed, command belief in the Prophet (ﷺ).
Qur'an 10:94 tells the Prophet (ﷺ) to ask those who have been reading the Book, so their Book was reliable.
Rebuttal
The verse is spoken to the Prophet (ﷺ) as a condition. And it ends by telling him that the truth has come to him. Ibn Kathir says it never meant he doubted. Readers of the earlier Book are called as witnesses to what it still holds, such as the mention of the Prophet (ﷺ).
Qur'an 6:115 and 18:27 say none can change God's words, so the Bible cannot have been changed.
Rebuttal
Ibn Kathir explains 6:115 as meaning no one can turn back God's (﷾) judgement. Qur'an 18:27 speaks of the Book revealed to the Prophet (ﷺ). The same Qur'an says men wrote the Book with their own hands, and promises to guard only the Qur'an.
The Qur'an accuses Jews and Christians only of twisting the meaning of their scripture, never of changing its text.
Rebuttal
It also says some wrote the Book with their own hands and said it was from Allah (﷾). And it says they hid much of it. Ibn Abbas, the Prophet's (ﷺ) cousin, said they changed the Book of Allah (﷾) and altered it.
Some manuscripts were copied centuries before Muhammad (ﷺ), such as Codex Sinaiticus, a Greek Bible copied in the fourth century. They match today's Bible. So the Bible of his day is the Bible of today.
Rebuttal
In his day the churches still kept different New Testaments. Codex Sinaiticus itself adds two books that are not in today's New Testament. The Qur'an confirms the revelation God (﷾) gave Jesus, not any of these later collections.
The Qur'an says it came "confirming" what the Jews and Christians had with them. So their scripture was intact in the seventh century.
Rebuttal
To confirm is to agree with the truth that remained, such as the oneness of God (﷾) and the coming Prophet (ﷺ). The same Qur'an says the Prophet (ﷺ) revealed much they had hidden. It calls itself the guardian over their scripture, not its copy.
Qur'an 2:85 asks "is it only a part of the Book that ye believe in". So, they say, Muslims may not pick and choose from the Bible.
Rebuttal
The verse rebukes people who ransomed captives by their law while killing and expelling their own people against it. It is about obeying part of the law and breaking the rest. Muslims believe in every book God (﷾) revealed, as the Qur'an commands.
The Islamic perspective
The Qur'an confirms the revelations God (﷾) gave Moses and Jesus, not the Bible as it was later put together. It says those texts were altered while they were left in human keeping. Allah (﷾) Himself guards only the Qur'an. The Qur'an makes itself the judge over the earlier books, and calls their people to follow the Prophet (ﷺ). So the dilemma has no second horn: nothing the Qur'an said was wrong.
The Qur'an says God (﷾) gave the Torah to Moses and the Injil to Jesus, as guidance and light.
The New Testament Gospels were written in Greek decades after Jesus, and none names its author in its text.
The Qur'an says some wrote the Book with their own hands. They changed words from their places, and hid much of it.
The Qur'an says the Torah's protection was entrusted to its rabbis, while Allah (﷾) Himself guards the Qur'an.
The Qur'an is the guardian and judge over the scripture before it.
The Qur'an and the Prophet (ﷺ) call Jews and Christians to believe in him and follow him.
A companion says that Qur'an 5:41, 5:44, 5:45 and 5:47 came down about some Jews. They were trying to avoid the stoning ruling in their own Torah.