The Eagles have reportedly seen their opening bid turned down but the London Evening Standard reports that Ian Holloway is still keen on securing a deal for the centre-back.
Bangura, 25, joined Watford's youth academy in 2005 but left a year later after failing to secure a work permit.
He spent four years at Honefoss before joining Haugesund but now believes that he is ready for a move back to England.
"I'm ready for new challenges and the Premier League is a great opportunity for me," he is quoted as saying.
Bangura has won 18 caps for his country.