Step 1

Combine garlic, paprika, ginger, turmeric, and saffron in a large bowl. Add chicken pieces and mix until coated with spices. Cover and refrigerate, 3 to 4 hours or overnight.

Step 2

Cut preserved lemon into quarters. Remove pulp from the peel and remove seeds from pulp. Mince pulp and set aside. Cut lemon peel into strips and set aside.

Step 3

Turn on a multi-functional pressure cooker (such as Instant Pot®) and select Saute function. Heat olive oil and butter in the cooker; add chicken. Cook chicken until browned, about 3 minutes per side. Transfer chicken to a plate, reserving drippings in the pot.

Step 4

Place onions and lemon pulp into the hot pot and cook, stirring occasionally, until onions have softened, about 5 minutes. Add cinnamon stick, place chicken on top, and scatter olives and lemon peel over the chicken. Pour in chicken broth. Close and lock the lid. Select high pressure according to manufacturer's instructions; set timer for 10 minutes. Allow 10 to 15 minutes for pressure to build.

Step 5

Release pressure using the natural-release method according to manufacturer's instructions, about 10 minutes. Unlock and remove the lid carefully, turning it away from you. Transfer contents to a large serving bowl. Sprinkle with parsley and cilantro and serve immediately.