Place the beans in a bowl and cover with 3 inches of water. Soak the beans 4–8 hours. Drain the beans.
Press the Sauté button of the Instant Pot® and add the oil. After the oil heats 1 minute add the onion, jalapeño, and garlic. Sauté until softened, about 5 minutes.
Add soaked beans, stock, passata, chili powder, mustard, oregano, cumin, pepper, bay leaves, and salt to the inner pot. Stir well to combine and scrape any brown bits from the bottom of the pot. Secure the lid.
Press the Manual or Pressure Cook button and adjust the time to 25 minutes.
When the timer beeps, let pressure release naturally until float valve drops and then unlock lid.
Remove and discard the bay leaves and then transfer the beans to a bowl for serving.