Preheat your oven to 350°F (175°C) and grease an 8x8-inch baking dish.

In a medium saucepan, bring 1½ cups of water to a boil. Stir in the short-grain rice, then cover and simmer for 10–12 minutes until tender.

In a large bowl, combine the whole milk, sweetened condensed milk, vanilla extract, cinnamon, nutmeg, and salt. Whisk until blended.

In a separate bowl, beat the eggs until frothy, then gradually whisk them into the custard mixture.

Spread the cooked rice evenly in the baking dish, and optionally sprinkle the raisins on top. Pour the custard mixture over the rice.

Place the baking dish in a larger pan and fill it with hot water until halfway up the sides of the inner dish.

Bake for 45–55 minutes until the top is golden and the center jiggles slightly.

Cool for 10–15 minutes before serving warm or chilled.