Cook the chopped bacon in a large Dutch oven over medium heat until crisp. Remove the bacon with a slotted spoon and set it aside, leaving the fat in the pot.
Season the lamb shanks with salt and pepper. Dredge them lightly in the flour, then brown them in the bacon fat on all sides. Remove the shanks and set aside.
Add the diced onion to the pot and cook until softened. Stir in the minced garlic and cook for one minute more.
Return the shanks to the pot along with the chicken broth, diced tomatoes, thyme, and bay leaves. Bring to a simmer, cover, and cook on low heat for about two hours until the meat is tender.
Add the sliced okra and corn kernels. Continue simmering uncovered for 20 minutes until the vegetables are tender.
Stir the cooked bacon back into the stew. Taste and adjust salt and pepper as needed before serving.