Heat oil in a deep-fryer or large saucepan to 350 degrees F (175 degrees C).
Fry the bread squares in the oil until crispy and brown; remove to a plate lined with paper towels to drain.
Stir the milk and sugar together in a saucepan; bring to a boil and reduce heat to medium-low. Add the cardamom pods, cloves, cinnamon sticks, and saffron; simmer together for 15 minutes. Remove and discard the whole spices. Set the mixture aside to cool to room temperature.
Arrange the bread in a flat-bottomed serving dish. Gently pour the milk mixture over the bread until all pieces are covered. Chill in refrigerator 2 to 3 hours. Garnish with the almonds to serve.
