On medium heat, bring water to boil with the cinnamon, ginger, star aniseed, bay leaf, and cardamom.
Wash the rice out a few times and discard the water
When water is boiling add rice to the water and bring it back to a boil. Lower temperature to a simmer until rice is cooked and tender and the water has evaporated. Make sure to stir often.
Once the rice is cooked, add whole milk to the pot and simmer till thickened.
Remove the cinnamon sticks and bay leaf and add the condensed milk and incorporate.
Also, add raisins if using them.
Serve warm or cold. And plain or with your favorite toppings.