Heat olive oil in a large pot over medium heat.
Add the chicken pieces and season with salt, pepper, turmeric, cinnamon, coriander, cumin, and cardamom.
Sear the chicken until golden on all sides, then add bay leaves and 2 cups of water. Cover and simmer for 20 minutes. Remove and set chicken aside.
In the same pot, sauté onions until golden brown. Add garlic, tomatoes, and tomato paste; cook for 3–4 minutes.
Stir in the drained basmati rice, chicken broth, paprika, cloves, garam masala, and nutmeg.
Return the chicken to the pot. Cover and cook on low heat for 20–25 minutes until the rice is soft and fluffy.
Gently mix in grated carrots and raisins. Garnish with toasted almonds before serving.