CIT Global reorganizes to drive growth strategy

The restructure efforts aim at creating new operational efficiencies that will accompany and support the company's future goals.

The new phase will involve management promotions starting with the promotion of Mr. Amr Hazem to be a member of the Executives Board; Mr. Hazem has been the Managing Director for CIT ME since 2005. Mr Amr Hazem has accepted the invitation of the Board to continue his commitment to the Company as a member of the Executives Board upon completion of his current duties. Mr. Hazem will contribute to the Board's challenging efforts to execute the new merge and acquisitions for CIT Global both locally and Internationally.

Currently the company is transforming its organizational structure to ensure it delivers high performance into the future, in that context, CIT Global announces the promotion of Mrs Nashwa Afifi to the position of General Manager of CIT Global-Middle East. Since 2004, she held the position of the ePayment and EMV Director at CIT Global Middle East. Mrs. Afifi has around 15 years of experience in the ePayment industry, She has vast international experience in the ePayment and chip cards areas; working in Canadian market, European market, as well as Middle East market (GCC, KSA and Egypt).

"CIT Global is currently indulged in a major growth phase on the national and international scales, both organically and through acquisitions,"

said Mr. Ashraf Zaki, president and CEO.

"Mrs. Afifi will provide a vital direction with a wealth of management expertise to play a fundamental role in supporting CIT Global's future goals and directions," he added.