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Combine flour, baking powder, sugar, cardamom and salt in a large bowl.
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Whisk egg and water together in a small bowl. Make a well in center of dry ingredients and add egg mixture. Mix together gradually with a fork until mixture forms a soft dough. If it's too sticky, add 1 or 2 tablespoons of flour (one at a time).
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Cover dough with a wet towel or plastic wrap and leave 30 minutes or longer.
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Heat 4 cups of oil in a deep, heavy pot (cast iron is preferable) until is reaches 360°F
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While oil is heating, roll dough out on a floured surface into a rectangle ½ inch thick. Use a sharp knife to cut into 20 equal rectangles.
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Fry maandazi in batches of 5, for about 5 minutes per batch, turning to brown both sides. Hint: Turn the mandaazi before it gets too puffy, or the air bubbles will prevent you from turning it at all.
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Remove from oil when both sides are golden brown. Serve warm, dipped in powdered sugar if desired.