Heat 2 tablespoons olive oil in a large soup pot or Dutch oven over medium-high heat. Add the lamb stew meat and sauté until browned, about 5–7 minutes. Remove the lamb to a dish and set aside.
In the same pot, add the onion, carrots, and parsnips. Cook for 6–8 minutes, stirring occasionally, until softened and starting to caramelize. Add the garlic, smoked paprika, salt, pepper and dried mint and sauté for 2-3 minutes or until fragrant.
Return the browned lamb and any juices to the pot. Add the tomatoes, chicken broth, bay leaf, white beans, and lentils. Bring to a boil, then reduce the heat to low. Simmer uncovered for 30 minutes, or until the lamb is tender and the lentils are cooked.
Stir in the Israeli couscous and continue to cook uncovered for 10–12 minutes, until tender. Remove the bay leaf. Stir in fresh mint and parsley just before serving.