Place a medium pot over medium heat and add the butter and canola. Once the butter has melted add the shallots and cook, stirring occasionally for about four minutes. Once the shallots have softened add in the ground coriander, salt, chilli flakes and bay leaf and cook for 30 seconds.
Add the rice and stir to coat the rice with all the fat and spices. Cook for about five minutes, stirring often to toast the rice.
Add the water and bring to a simmer, turn the heat to low and cook covered for 18 minutes.
Add the currants and remove the pot from the heat. Let the rice stand for ten minutes.
Fluff the rice with a fork and stir in the feta and parsley.