In a large pot, heat the olive oil over medium heat. Add the diced onion and sauté until translucent, about 5 minutes.
Stir in the minced garlic, diced carrots, and potato. Cook for another 5 minutes, stirring occasionally.
Add the rinsed lentils, water or vegetable broth, ground cumin, ground coriander, salt, black pepper, turmeric, and bay leaf. Bring to a boil.
Once boiling, reduce the heat to low, cover, and let simmer for about 30-35 minutes, or until the lentils are tender.
Remove from heat, discard the bay leaf, and adjust seasoning if necessary.
Ladle the stew into bowls and garnish with fresh parsley before serving.
Store leftovers in an airtight container in the refrigerator for up to 3 days. Reheat before serving.