Heat oil in a saucepan and add chili paste, garlic, ground cumin and onion. Cook, stirring occasionally until soft and tender. Add 2 cups water and season with salt.
Bring to a boil and stir in milk, diced cheese and cooked potatoes. Finally add fava beans and bring to a boil for 10 minutes. Serve with white cooked rice and sprinkle with parsley.