Rinse the rice until the water runs clear, then soak it in fresh water for 20 minutes. Drain well.

In a heavy-bottomed pot, combine milk, crushed cardamom, and saffron. Bring to a gentle simmer over medium heat, stirring occasionally, about 5 minutes.

Add the drained rice, reduce heat to low, and cook uncovered for 40 to 45 minutes, stirring often, until the rice is tender and the milk has thickened.

Stir in the sugar and cook 2 more minutes. Remove from heat, fold in half the nuts and the raisins, then ladle into bowls. Top with the remaining nuts and serve warm or chilled.