Cook onion, garlic, cinnamon stick, saffron, pepper flakes, bay leaf, and cloves in oil in a 4-quart heavy saucepan over low heat, stirring occasionally, until onion is softened, about 8 minutes.
Trim fennel stalks flush with bulb, discarding stalks, and trim any discolored outer layers. Cut bulb lengthwise into 1/4-inch wedges. Cut peppers into 1-inch pieces. Add fennel and bell peppers to onion mixture and cook, stirring occasionally, 5 minutes. Add tomatoes, broth, and water and simmer, covered, until peppers are tender, about 8 minutes.
Rinse and drain chickpeas. Pat chicken dry and cut crosswise into 3/4-inch-thick slices. Season with salt and pepper. Add chicken and chickpeas to vegetable mixture and simmer, stirring occasionally, until chicken is cooked through, about 6 minutes. Stir in parsley and salt and pepper.
