In a large pot over medium-high heat, heat 1 tablespoon olive oil. Season the steak with ½ teaspoon salt and ¼ teaspoon black pepper. Cook until browned on the outside, about 5 minutes, stirring a couple times. Remove the steak and set aside.
In the same pot used to cook the steak, add the onions with the remaining olive oil and cook until soft and translucent, about 5 to 7 minutes.
Add the rice on top of the cooked onions along with tomato paste, remaining salt and pepper, thyme, ginger and crushed red pepper; stir to combine until the rice is red in color and lightly toasted.
Add the diced tomatoes and green pepper along with the bay leaves on top of the rice. Return the cooked steak to the pot along with the water.
Mix all the ingredients together, bring to a boil, then reduce the heat to low, cover with a tight-fitting lid and simmer for 15 minutes, until rice is fully cooked. Remove from heat and allow the steam to continue cooking the rice for 5-10 more minutes.
Fluff the rice, sprinkle with fresh parsley and serve warm.
Storage: Leftovers can be stored in the fridge for 3 to 4 days.