Melt lard in a large skillet over medium heat. Add veal and cook 5 minutes or until brown, turning once. Remove veal from skillet, reserving pan drippings. Set veal aside.
Stir 2 tablespoons flour into pan drippings in skillet. Cook over medium heat, stirring constantly, 5 minutes or until flour is browned. Add remaining ingredients except hot cooked rice, mixing well. Cook mixture 1 to 2 minutes. Add reserved veal, and simmer, uncovered, 30 minutes or until veal is tender. Remove bay leaf, and discard. Serve veal with sauce over hot cooked rice.