In a small bowl, combine saffron threads, cumin, paprika, turmeric, ground ginger, cayenne pepper, and cinnamon.
In a large Dutch oven, heat the extra virgin olive oil over medium-high heat. Season the chicken pieces with salt and pepper. Add the chicken to the pot, skin side down, and sear until golden brown, about 5-7 minutes per side.
In the same pot, add the finely chopped onion. Sauté for about 3-4 minutes until softened. Add the crushed garlic and stir for another minute until fragrant.
Stir in the spice blend and cook for about 1-2 minutes, allowing the spices to bloom.
Return the browned chicken pieces to the pot. Pour in the chicken stock and add the preserved lemon peels. Bring to a gentle simmer.
Cover and let it simmer for about 40 minutes, or until the chicken is tender. Stir occasionally and adjust seasoning.
In the last 10 minutes, stir in the pitted green olives.
Remove from heat and let rest for a few minutes. Garnish with fresh chopped cilantro before serving.