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The Malaysian insurance industry is made up of conventional insurance sectors – life and general – and takaful, an Islamic insurance concept. In the country, there were 25 general insurance companies, eight life insurance companies, six life and general insurance companies, and eight takaful companies in 2009. Life insurance penetration is relatively average at 41% (2011), and this includes those individuals with multiple policies. The Malaysian government is trying to encourage more of its people to take out life insurance and intends to achieve this through the Economic Transformation Programme (ETP), which will provide tax relief for life insurance premiums. The industry has been under the supervision of Bank Negara Malaysia since 1988.