Clean the rice by washing placing it in a bowl with water. Discard the water.
Put the rice on a cooking pot. Pour-in 3 1/2 cups water and add the butter, saffron, bell peppers and salt. Stir.
Heat the cooking pot (covered) in a stove top. Let boil.
Once the liquid starts to boil, adjust the heat to a simmer. Continue to simmer for 15 to 20 minutes or until the rice completely absorb the liquid. Try to gently stir the rice in the middle of the process to ensure that the ingredients are distributed evenly.
Transfer to a serving bowl with your favorite main dish such as beef kebobs.