Season the lamb with salt and pepper. Heat 1 tablespoon of the oil in an oven-safe sauté pan over medium-high heat and cook the lamb in single-layer batches, turning occasionally, until browned on all sides, 8 to 10 minutes total, adding a tablespoon of oil between batches if needed. Remove the lamb and reserve.

Preheat the oven to 350oF. Add the remaining 1 tablespoon oil to the pan and stir in the onions and garlic. Let sizzle for a minute, then lower the heat to medium-low and cook, stirring often, until soft, about 15 minutes. Add the cumin, turmeric, ginger, cayenne, and tomato paste to the pot and stir to combine. Add the lamb along with the wine, 5 cups of water, and bay leaf. Bring to a boil over high heat, stirring occasionally, then cover and transfer to the oven for 1 hour. Add the pumpkin, cinnamon stick, and carrots, cover the pot, and return to the oven until the meat easily releases when pierced with a skewer or small knife, another 1 to 1 1⁄2 hours. Remove the bay leaf. Season to taste with salt and pepper, garnish with pomegranate seeds and cilantro, and serve.