Heat the olive oil in a large saucepan over a medium heat and add the cumin, cinnamon stick, sweet and hot paprika and onions. Season and cook for 10 minutes, stirring from time to time.
Add the lamb and stir to brown, then add the cold water with the saffron infusion. Cover and simmer for 1 1/2 to 2 hours until the meat is almost tender.
Add the peas and simmer, uncovered, for another 20-30 minutes until the lamb is soft and the peas sweet.