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Saudi Central Bank Governor: Cryptocurrencies Need Watching

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Thursday, 26 October 2017 12:11 PM

Saudi Arabia's non-oil sector of the economy is still healthy and the private sector will continue to grow, stimulated by reforms, the Saudi central bank governor said on Thursday.

Ahmed al-Kholifey, governor of the Saudi Arabian Monetary Authority (SAMA), also said international cooperation was needed to assess the risks and impact of cryptocurrencies.

"We warned the public that be careful there is no legal framework protecting you and we need really to understand more and this is what you hear in the international area when you go to meetings, they have the same feeling," he said at an investment conference in Riyadh..

"I think it means more international efforts to assess the impact of cryptocurrencies on financial stability and the financial system in general," he said. 

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Saudi Arabia's non-oil sector of the economy is still healthy and the private sector will continue to grow, stimulated by reforms, the Saudi central bank governor said on Thursday.
saudi, cryptocurrencies, central, bank, governor
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2017-11-26
Thursday, 26 October 2017 12:11 PM
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