Preheat the oven to 150C/Gas 2.
1) In a large Dutch oven over medium-high heat, add the oil. Season the beef with salt and pepper. Sear until nicely browned on all sides, about 2 minutes.
2) Add the onions, carrots, garlic, oregano, cumin, cinnamon stick, tomatoes and beef stock. Make a slit in the Scotch bonnet or habanero chilli and add it to the sauce. Cover with a lid and braise in the oven until the meat is fork tender, about 1 1/2 hours.
Remove the beef from oven, fold in the green olives, capers and parsley, and serve over rice, if desired.