Soak the dried red beans in water overnight.
Drain and rinse the beans before cooking.
In a large pot, sauté the chopped onion and bell pepper until soft.
Add minced garlic and cook for an additional minute.
Stir in the cumin, paprika, and bay leaf.
Add the soaked beans and vegetable broth to the pot.
Bring to a boil, then reduce heat and simmer for about 1 hour.
In a separate pot, cook the rice according to package instructions.
Season the beans with salt and pepper to taste.
Serve the beans over the cooked rice, garnished with fresh parsley.