The wicketkeeper-batsman was bought by RCB for his base price of Rs 20 lakh.
The 48-year-old Bangar, who played 12 Tests and 15 ODIs between 2001 and 2004, will be reunited with India skipper Virat Kohli in his new role with RCB.
Ghouse was only 53 and lost the battle to a lung ailment.
The left-handed RCB opener was adjudged the ‘Emerging Player of the Season’ in the just-concluded IPL 2020.
RCB lost the IPL Eliminator against Sunrisers Hyderabad by six wickets to bow out of the 13th edition of the competition after a poor batting performance.
SRH will take on Delhi Capitals in what is effectively a semifinal on Sunday with the winners meeting defending champions Mumbai in Tuesday's final in Dubai.
Captain Virat Kohli and AB de Villiers need to take responsibility in the big match for RCB.
Kohli, who made his international debut in 2008, has so far represented India in 86 Tests, 248 ODIs and 82 T20Is, scoring 7,240, 11,867 and 2,794 runs, respectively.
MI have all the bases covered with a strong top-order, powerful middle-order and a top-class bowling attack.
As for DC, Monday's win guarantees them two shots at entering the final, the first of which will be on Thursday against Mumbai Indians in the Qualifier 1.