October 26, 2017 / 9:54 AM / a year ago

UPDATE 1-Saudi private sector to grow, crypto-currencies need watching - cenbank governor

(Adds quotes from central bank governor)

RIYADH, Oct 26 (Reuters) - Saudi Arabia’s non-oil sector of the economy is still healthy and the private sector will contine 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 crypto-currencies.

“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 crypto-currencies on financial stability and the financial system in general,” he said. (Reporting by Andrew Torchia; Writing by Edmund Blair; Editing by Jeremy Gaunt)

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