Heat the vegetable oil in a large pot or Dutch oven over medium-high heat.
Add the beef or lamb stew meat and brown on all sides.
Remove the meat from the pot and set aside.
Add the chopped onion to the pot and cook until translucent.
Add the minced garlic and cook for another 30 seconds.
Add the sliced carrots, chopped bell peppers, and potato chunks to the pot and cook for 5-7 minutes, stirring occasionally.
Return the meat to the pot and add the canned diced tomatoes, kidney beans, beef or chicken broth, bay leaves, thyme, salt, and pepper.
Bring the mixture to a boil, then reduce the heat to low and let it simmer for 1-2 hours, or until the meat is tender and the vegetables are cooked through.
Remove the bay leaves and adjust the seasoning, if needed.
To save time, you can use pre-cut stew meat instead of cutting it yourself.You can use frozen vegetables instead of fresh ones to save on prep time.You can also use a slow cooker to make the Bosnia Lonac recipe. Simply brown the meat and sauté the vegetables in a pan before transferring everything to the slow cooker and cooking on low for 6-8 hours.