Begin by chopping the beef stew meat into bite-sized pieces, ensuring all fat is removed for tenderness. Dice your onions, bell peppers, carrots, and Yukon Gold potatoes.

In a large pot, heat 2 tablespoons of oil over medium-high heat. Add the chopped beef stew meat in batches, allowing them to brown for about 4-5 minutes on each side.

Lower the heat to medium and add a bit more oil if necessary. Toss in the chopped onions, scallions, and minced garlic, stirring for 2-3 minutes until fragrant and translucent.

Stir in the tomato paste, paprika, fresh thyme, allspice, and ginger, allowing them to meld together for 1-2 minutes.

Pour in 4 cups of beef broth, scraping up any browned bits from the pot's bottom. Add the browned beef back in along with potatoes, carrots, bell peppers, and bay leaves. Bring to a gentle boil.

Reduce heat to low, cover, and let stew simmer for about 2 hours until beef is tender and shreds easily with a fork.

Once cooked, remove bay leaves. Serve the hearty stew over a bed of fluffy long-grain white rice.