Heat olive oil in a pot or Dutch oven.

Add raw rice and fry until golden brown, stirring frequently.

In a separate pan, melt margarine and saute minced green pepper, chopped celery, and garlic powder until softened.

Add the sauteed vegetables to the pot with the rice.

Stir in chicken broth, salt, crushed bay leaf, and drained red kidney beans.

Cover the pot with a piece of wax paper, then cover tightly with a lid.

Bake in a preheated oven at 325°F (163°C) for 45 minutes.

Fluff the rice with a fork before serving.