In NT times Abraham was honoured as the ancestor of

• Israel, Acts 13:26
• the levitical priesthood, Heb 7:5
• the Messiah himself, Mt 1:1

The popular Jewish superstition that racial descent from Abraham brought divine blessing with it is refuted by

• John the Baptist, Mt 3:9
• Paul, Rom 9:7

Nevertheless, the unity of the Hebrews as his descendants was a picture of the unity of believers in Christ, Gal 3:16, 29.

God’s children now inherit by faith those things granted to Abraham, including

• the oath, Lk 1:73
• the covenant, Acts 3:13
• the promise, Rom 4:13
• the blessing, Gal 3:14

Abraham’s faith was a type of that which leads to justification, Rom 4:3-12, a pre-Christ proclamation of the universal gospel Gal 3:8.

Abraham provides outstanding examples of faith in action in his

• obedience by faith to his call from Ur to the nomadic life of a ‘stranger and pilgrim’
• his offering of Isaac are listed as outstanding examples of faith in action, Heb 11:8-19; Jas 2:21.

Based on art. in New Bible Dictionary