Add the oil to the instant pot and brown the beef in batches (add more oil between batches if necessary). Set aside.
Whilst the beef is browning, rinse and drain the rice. Set aside.
When the last of the beef is removed, add the butter followed by the onion and fry until softened (around 3 minutes).
Add the carrots, paprika, cumin and bay leaves. Season to taste. Fry for another 3 minutes.
Add the beef back into the pot. Stir everything together and then add the rice (do not stir again)
Push the 2 halves of garlic down into the rice (cut side down) and gently pour the stock over the top (try not to disturb the rice).
Put the lid on the instant pot and set on high pressure for 30 minutes. Leave under pressure for another 15 minutes and then do a quick release.
Remove the lid and remove the garlic. Squeeze the garlic into the rice and then stir everything together.
Serve garnished with parsley.