The role of Saudi Central bank, formerly known as Saudi Arabian Monetary Agency (SAMA) gives it much wider powers than what are accorded to other central banks or SWFs, and this fact also accounts for its more conservative use of foreign assets. SAMA used to spearhead Saudi’s SWF efforts (it was a founding member of IFSWF) but it transferred its role to PIF since King Salman’s ascent to the throne in 2015. Its Chairman and Governor is not from the royal family, Al Saud.