Place a large sauce pan on medium-high heat and add the olive oil.
Add the beef and brown, stirring occasionally, then add the cumin, oregano, bay leaf, onion, bell pepper, garlic and season with salt and pepper. Cook for about 10 minutes more.
Add the tomato sauce, white wine, olives and raisins. Reduce the heat to low, cover and cook for about 30 minutes, stirring often.
Remove the bay leaf and serve over plain white rice.