Position a rack in the center of the oven and heat the oven to 325 degrees F. Spread the pistachios on a baking sheet and toast in the oven until golden and fragrant, 7 to 10 minutes. Transfer the baking sheet to a wire rack to cool. Roughly chop the nuts and set aside.

Heat the oil in a medium saucepan over medium-high heat. Add the onion and salt, and saute for 2 minutes; add the coriander, cardamom, cinnamon, and bay leaf to the pan and continue to cook, stirring occasionally, until the onion is softened and turning brown, 1 to 3 minutes more. Add the rice and cook, stirring, until the rice is well coated with oil and slightly translucent, about 3 minutes.

Add the chicken broth. Bring to a boil and then reduce the heat to low, cover, and let simmer until the liquid is absorbed and the rice is tender, about 15 minutes. Discard the cinnamon stick, bay leaf, and cardamom pods.

Season to taste with salt if necessary. When ready to serve, sprinkle with the chopped pistachios.